Favata Company has the following information

Favata Company has the following information:

Month Budgeted Sales
June $60,000
July 51,000
August 40,000
September 70,000
October 72,000

In addition, the cost of goods sold rate is 70% and the desired inventory level is 30% of next month’s cost of sales.

Prepare a purchases budget for July through September.

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