Caskill Company forecasts $40,000 of sales in January, $38,000 in February, $30,000 in March, and $32,000 in April. Cost of goods sold is budgeted at 75% of sales. Caskill should have inventory on hand at the end of each month equal to $5,000 plus 20% of the following month's cost of goods sold. How much are budgeted purchases for January, February and March? Complete the Table below for Caskills Inventory, Purchases and COGS Budget.

Sales Budget	Jan	Feb	Mar	Apr
Total Sales

Inventory, Purchases and COGS Budget	Jan	Feb	Mar	Apr
Cost of Goods Sold
Desired ending inventory
Total inventory required
Less: Beginning inventory
Purchases