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If Budgeted Beginning Inventory Is $8,300, Budgeted Ending Inventory Is

Question 21

True/False

If budgeted beginning inventory is $8,300, budgeted ending inventory is $9,400, and cost of goods sold is expected to be $10,260, then budgeted purchases should be $9,160.
Budgeted purchases = $9,400 + $10,260 - $8,300 = $11,360

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