Cathy Norris Art Supplies plans to sell the following quantity of model AB222 airbrush during the first four months of 2005:

The company pays \($44\) for each airbrush and sells them for \($65\). At the beginning of January, Cathy Norris Art Supplies plans to have six airbrushes on hand, and intends to maintain an ending inventory equal to 15 percent of next month’s sales.
Required: Prepare a purchases budget for the first quarter of 2005 for Cathy Norris Art Supplies. Remember, the first quarter is January, February, and March. April sales are provided only to help compute the ending inventory for March.

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January February March April Units 40 26 22 20