The McGraw Company Has the Following Information Available The Cost of Goods Sold Rate Is 65% and the Month

question 40

Essay

The McGraw Company has the following information available:
$\begin{array}{ll}\text { Month }&\text { Budgeted Sales }\\\text { June } & \$ 68,000 \\\text { July } & 72,000 \\\text { August } & 74,000 \\\text { September } & 76,000 \\\text { October } & 78,000\end{array}$
The cost of goods sold rate is 65% and the desired ending inventory level is 25% of the next month's cost of sales.
Required:
Prepare a purchases and cost of goods sold budget for July,August and September.

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Definitions:

Hadal Zone

The Hadal Zone refers to the deepest regions of the ocean, typically found in oceanic trenches, and ranges in depth from about 6,000 to 11,000 meters.

Benthic Environment

The ecological region at the lowest level of a body of water such as an ocean or a lake, including the sediment surface and some sub-surface layers.

Tropical Dry Forests

Ecosystems found in tropical regions characterized by a distinct dry season, supporting diverse plant and animal life adapted to arid conditions.

Marsupials

Marsupials are a group of mammals that typically carry and nurse their young in a pouch, such as kangaroos and koalas.