Mergan Company’s July sales budget shows sales of $1,400,000. The company budgets beginning merchandise inventory of $12

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Mergan Company’s July sales budget shows sales of $1,400,000.
The company budgets beginning merchandise inventory of $120,000 and
ending merchandise inventory of $90,000 for July. Cost of goods
sold is 60% of sales. The budgeted cost of merchandise purchases
for July is:
$720,000.
$930,000.
$810,000.
$960,000.
$840,000.