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How much inventory do you need to purchase for November

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Question - Horizon Audio Systems sells and installs car starter systems. The company's sales budget for the fourth quarter is provided below:

Month: Budgeted Sales:

October $90,000

November $98,000

December $104,000

You can expect the company's cost of goods sold to be 80% of sales. The ending inventory balance each month should be 20% of the next month's cost of goods sold. Based on this information, how much inventory do you need to purchase for November?

Reference no: EM132777305

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