Exercise 14-11 (Algo) Purchases budget LO 5 [The following information applies to the questions displayed below.] Each gallon of Old Guard, a popular aftershave lotion, requires 2.5 ounces of ocean scent. Budgeted production of Old Guard for the first three quarters of 2019 is as follows: Management's policy is to have on hand at the end of every quarter enough ocean scent inventory to meet 36% of the next quarter's production needs. At the beginning of Quarter I, 10,800 ounces of ocean scent were on hand. Exercise 14-11 (Algo) Part a Required: a. Calculate the number of ounces of ocean scent to be purchased in each of the first two quarters of 2019