Multiple Choice
Sales of $550,000 are forecast for the third quarter. Gross profit is 40% of sales, and beginning inventory is $165,000. If ending inventory is budgeted as $215,000, what are the budgeted purchases?
A) $270,000
B) $330,000
C) $165,000
D) $380,000
Correct Answer:
Verified
Correct Answer:
Verified
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