Dashboard - StudentsExcel.com X Cash Flow Budget- Fourth Editic X D31 Homepage - Kennesaw State https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmgh C OUNTING DDS GA Driver's Lic... X Xfinity G Gmail YouTube Maps Saved Ch 14 HW i 3 Exercise 14-7A (Algo) Preparing an inventory purchases budget LO 14-3 Solomon Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory 5 purchases budget. Solomon's policy is to maintain an ending inventory balance equal to 20 percent of the following month's cost of points goods sold. April's budgeted cost of goods sold is $80,000. Required eBook . Complete the inventory purchases budget by filling in the missing amounts. . Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement. . Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter. Hint Complete this question by entering your answers in the tabs below. Print Req A Req B and C References Complete the inventory purchases budget by filling in the missing amounts. Inventory Purchases Budget January February March Budgeted cost of goods sold $ 56,000 . $ 60,000 $ 66,000 12,000 Inventory needed 68,000 11,200 Required purchases (on account) $ 56,800 Req A Req B and C > MC Type here to search O X 62OF Partly su ESC - F1 X F2 F3 F4 DIF F6 F7 PrtSon F9 End F10 PgUp a o & B 5 6 8 Q W E R T Y U A S D F G Hhttps://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddlewar ING DDS GA Driver's Lic.. X Xfinity G Gmail YouTube Maps Saved Ch 14 HW i 3 Exercise 14-7A (Algo) Preparing an inventory purchases budget LO 14-3 Solomon Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory 5 purchases budget. Solomon's policy is to maintain an ending inventory balance equal to 20 percent of the following month's cost of points goods sold. April's budgeted cost of goods sold is $80,000. Required Book a. Complete the inventory purchases budget by filling in the missing amounts. b. Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement. c. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter. Hint Complete this question by entering your answers in the tabs below. Print Req A Req B and C references Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter . b. Cost of goods sold Ending inventory Type here to search O X 62F Partly sunny ~ ESC F1 X F2 4' F3 1') FA F5 F6 F7 PrtSch F8 Home F9 F10 PgUP F11 Pg a #F & 5 6 7 8 Q W E R T Y U O A S D F G H K Z X C V B