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Wallace Company provided the following data for next year: Month. Budgeted Sales. Jan. 127,000 Feb. 117,000 Mar. 139,000 Apr. 148,000 The gross profit rate is

Wallace Company provided the following data for next year:

Month. Budgeted Sales.

Jan. 127,000

Feb. 117,000

Mar. 139,000

Apr. 148,000

The gross profit rate is 25% of sales. Inventory at the end of December is $17,550 and target ending inventory levels are 10% of next months ssles, started at cost.

What is the amount of purchases budgeted for January?

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