Question: Disney Distributors is preparing its merchandise purchases budget. Budgeted sales are $725,000 for July and $790,000 for August. Cost of goods sold is expected to

Disney Distributors is preparing its merchandise purchases budget. Budgeted sales are $725,000 for July and $790,000 for August. Cost of goods sold is expected to be 55% of sales. The company's desired ending inventory is 20% of the following month's cost of goods sold. Compute the required purchases for July.

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