Which one of the following is the correct formula for determining budgeted merchandise purchases?
A) Budgeted sales + desired ending inventory - beginning inventory
B) Budgeted production - sales + beginning inventory - desired ending inventory
C) Budgeted sales - cost of goods sold + desired ending inventory - beginning inventory
D) Budgeted sales - cost of goods sold + beginning inventory - desired ending inventory
Correct Answer:
Verified
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