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The budget committee of Litwin Company collects the following data for its San Miguel Store in preparing budgeted income statements for May and June 2014.
4. Operating expenses are estimated to be:
Prepare the merchandise purchases budget for each month in columnar form.
Prepare budgeted income statements for each month in columnar form. Show in the statements the details of cost of goods sold. (Round answers to 0 decimal places, e.g. 2,500.)
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