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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 20% of the following month's expected cost of goods sold. Expected cost of goods sold for April is $70,000.
\table[[Sales,January,February,March],[Budgeted cost of goods sold,$40,000,$50,000,$60,000
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