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Question(s) / Instruction(s):

 Desired ending inventory is 80% of beginning inventory. If cost of goods sold is $300,000, which of the following statements is true regarding purchases? 

A             Purchases will be more than cost of goods sold

B             Purchases will be 80% of cost of goods sold

C             Purchases will equal cost of goods sold

D             Purchases will be less than cost of goods sold

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