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2 March, 09:59

A sporting goods store purchased $7,600 of ski boots in October. The store had $3,600 of ski boots in inventory at the beginning of October, and expects to have $2,600 of ski boots in inventory at the end of October to cover part of anticipated November sales. What is the budgeted cost of goods sold for October?

a. $7,600.

b. $8,600.

c. $11,200.

d. $10,200.

e. $6,200.

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  1. 2 March, 11:54
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    The budgeted cost of goods sold for October is b. $8,600

    Explanation:

    The budgeted cost of goods sold for October = The amount of goods sold in October = Inventory at the beginning of October + The amount of goods purchased in October - Inventory at the end of October

    The store had $3,600 of ski boots in inventory at the beginning of October, and expects to have $2,600 of ski boots in inventory at the end of October. The store purchased $7,600 of ski boots in October.

    The budgeted cost of goods sold for October = $3,600 + $7,600 - $2,600 = $8,600
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