Miller Company has the following data:
The gross profit rate is 40 percent, and the inventory at the end of December was $72,000. Desired inventory levels are 30 percent of next month's sales.
-The total purchases budgeted for February should be

Question

Miller Company has the following data:
  The gross profit rate is 40 percent, and the inventory at the end of December was $72,000. Desired inventory levels are 30 percent of next month's sales.
-The total purchases budgeted for February should be

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The Answer of Miller Company has the following data:
  The gross profit rate is 40 percent, and the inventory at the end of December was $72,000. Desired inventory levels are 30 percent of next month's sales.
-The total purchases budgeted for February should be

Miller Company Has the Following Data