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Walker Company prepares monthly budgets. The current budget plans for a September ending inventory of 19,000 units. Company policy is to end each month with
Walker Company prepares monthly budgets. The current budget plans for a September ending inventory of 19,000 units. Company policy is to end each month with merchandise inventory equal to a specified percent of budgeted sales for the following month. Budgeted sales and merchandise purchases for the three most recent months follow. |
Sales (Units) | Purchases (Units) | |
July | 170,000 | 186,000 |
August | 330,000 | 326,000 |
September | 290,000 | 280,000 |
1. Prepare the company's merchandise purchases budget for the months of July, August and September.
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