All purchases and sales are on credit. There are no cash purchases or sales.

Ending inventory is budgeted to be 25% of the expected unit sales for the following month. Expected sales in units are:

January	40
February	48
March	60
April	64

24 units were in inventory on December 31 of the prior year.

Units are purchased for $1,000 each. 30% of purchases are paid for in the month of the purchase. The remaining 70% are paid for in the following month.

Units are sold for $1,500 each. 20% of sales are collected in the month of the sale. The remaining 80% are collected in the following month.

What is the budgeted purchases in units for March? What is the budgeted purchases in dollars for March? What is the budgeted gross profit for March? What is the budgeted total cash disbursements in March for inventory purchases in all months? What is the budgeted Accounts Payable balance on March 31? What are the projected cash receipts in March for sales made in all months? What is the projected Accounts Receivable balance on March 31? What is the projected Merchandise Inventory balance on March 31?