er 14 Homework Help Save & Exit Submit Check my work Problem 14-19 (Algo) Purchases budget LO 4,5 Brooklyn Furniture, a retail store, has an average gross profit ratio of 48%. The sales forecast for the next four months follows July August September October $257.000 207.000 301.000 425,000 Management's inventory policy is to have ending Inventory equal to 350% of the cost of sales for the subsequent month, although it is estimated that the cost of inventory at June 30 will be $416,000 Required: Calculate the purchases budget in dollars, for the months of July and August Purchases July August