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Skymont Company wants an ending inventory each month equal to 30% of that month's cost of goods sold. Cost of goods sold for February is
Skymont Company wants an ending inventory each month equal to 30% of that month's cost of goods sold. Cost of goods sold for February is projected at $92,000. Ending inventory at the end of January was $27,000. Based on this information, purchases for February would be:
Multiple Choice
a. $65,000
b. $99,680
c. $92,600.
d. $72,680
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