1. Assume a merchandising companys estimated sales for January, February, and March are $102,000, $122,000, and $112,000, respectively. Its cost of goods sold is always 35% of its sales. The company always maintains ending merchandise inventory equal to 20% of next months cost of goods sold. What are the required merchandise purchases for January?

3. Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cash sales of $27,000 and $43,500, respectively. It also expects credit sales of $53,500 and $63,500, respectively. The company expects to collect 45% of its credit sales in the month of the sale, 50% in the following month, and 5% is deemed uncollectible. What amount of cash collections would appear in the companys cash budget for the first month?

5.Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cash sales of $34,500 and $38,000, respectively. It also expects credit sales of $54,500 and $64,500, respectively. The company expects to collect 30% of its credit sales in the month of the sale, 60% in the following month, and 10% is deemed uncollectible. What amount of cash collections would appear in the companys cash budget for the second month?