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Skymont Company wants an ending inventory each month equal to 25% of that month's cost...

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Accounting

Skymont Company wants an ending inventory each month equal to 25% of that month's cost of goods sold. Cost of goods sold for February is projected at $88,000. Ending inventory at the end of January was $31,000. Based on this information, purchases for February would be:

Multiple Choice

$57,000.

$79,000.

$97,000.

$66,000.

Answer & Explanation Solved by verified expert
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