Question: Spartan Corporation projects the dollar value of the company s cost
Spartan Corporation projects the dollar value of the company’s cost of goods sold to be $160,000 in June, $169,000 in July, and $154,000 in August. The dollar value of its desired ending inventory is 25 percent of the following month’s cost of goods sold. Compute the total purchases in dollars budgeted for June and the total purchases in dollars budgeted for July.
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