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In June 2020, the following data was prepared by Chuckie Chams Productions for preparing the...

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Accounting

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In June 2020, the following data was prepared by Chuckie Chams Productions for preparing the merchandise purchases budget for the month of July: 1. 2. 3. Expected sales: June $579,000; July $622,000. Cost of goods sold is expected to be 55% of sales. Desired ending merchandise inventory is 40% of the following month's cost of goods sold. The beginning inventory at July 1 will be the desired amount. 4. Calculate the budgeted merchandise purchases for June. Chuckie Chams Productions Merchandise Purchases Budget For June $ Calculate the budgeted merchandise purchases for June. Chuckie Chams Productions Merchandise Purchases Budget For June $ $ $ Save for Later Attempts: 0

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