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Tuscarora, Inc., a merchandising company, has the following budgeted figures: Jan Feb Mar April Sales $56,700 $64,000 $88,000 $92,000 Cost of goods sold 60% of
Tuscarora, Inc., a merchandising company, has the following budgeted figures:
| Jan | Feb | Mar | April | |
| Sales | $56,700 | $64,000 | $88,000 | $92,000 |
| Cost of goods sold | 60% of sales | |||
| Required ending inventory | $10,000 + 30% of next month's sales | |||
| Inventory on hand on Jan 1 | $27,500 |
Calculate the budgeted purchases for the month of January.
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