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In September 2016, the budget committee of George Company assembles the following data: (1). Expected...

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Accounting

In September 2016, the budget committee of George Company assembles the following data:

(1). Expected Sales

October $2,000,000

November 1,900,000

December 1,700,000

(2). Cost of goods sold is expected to be 50% of sales.

(3). Desired ending merchandise inventory is 20% of the next month's cost of goods sold.

(4). The beginning inventory at October 1 will be the desired amount.

How much inventory will George Company purchase for October 2016?

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