Homework Answers
| August | |
| Sales | 560000 |
| Less: gross profit (560000*45%) | 252000 |
| Cost of goods sold | 308000 |
| Add: inventory required (600000*55%*30%) | 99000 |
| Less: beginning inventory (308000*30%) | (92400) |
| Inventory required to purchase | $314600 |
Option b. is correct answer.
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