Thomas Company
Thomas Company has a sales budget for next month of $1,000,000. Cost of goods sold is expected to be 45 percent of sales. All goods are paid for in the month following purchase. The beginning inventory of merchandise is $20,000, and an ending inventory of $24,000 is desired. What is budgeted purchases for next month? [blank] Type just a number in the answer box (with no punctuation.)
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