Compute the budgeted cost of goods sold

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Reference no: EM131815973

Question: Purchases and Cost of Goods Sold Popeil Products, a wholesaler of fishing equipment, budgeted the following sales for the indicated months:

All merchandise is marked up to sell at its invoice cost plus 20%. Target merchandise inventories at the beginning of each month are 25% of that month's projected cost of goods sold.

1. Compute the budgeted cost of goods sold for the month of June 20X8.

2. Compute the budgeted merchandise purchases for July 20X8.

Reference no: EM131815973

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