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Metro, Incorporated sells backpacks. The Company's accountant is preparing the purchases budget for the first...

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Accounting

Metro, Incorporated sells backpacks. The Company's accountant is preparing the purchases budget for the first quarter operations. Metro maintains ending inventory at 10% of the following month's expected cost of goods sold. Expected cost of goods sold for April is $80,000. Based on this information the total amount of expected purchases for February is

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image Multiple Choice $46,500. $66,500. $60,500. None of the answers is correct

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