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Business, 05.05.2020 05:16 torieegrey

Chu Company provided the following information related to its inventory sales and purchases for December Year 1 and the first quarter of Year 2:

Dec. Year 1 Jan. Year 2 Feb. Year 2 Mar. Year 2
(Actual) (Budgeted) (Budgeted) (Budgeted)
Cost of goods sold $ 50,000 $ 80,000 $ 100,000 $ 70,000

Desired ending inventory levels are 35% of the following month's projected cost of goods sold. Budgeted purchases of inventory in February Year 2 would be:

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