Exercise 14-7 Preparing an inventory purchases budget LO 14-3 Adams Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purchases budget. Adams's policy is to goods sold. April's budgeted cost of goods sold is $78,000 cent of the following month's cost of Required d a. Complete the inventory purchases budget b 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 Complete this question by entering your answers in the tabs below Req A quarter pro forma income nventory the company wil report on its pro forma balance sheet at the end of the first quarter of Req A Exercise 14-7 Preparing an inventory purchases budget LO 14-3 Adams Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purchases budget. Adams's policy is to goods sold. April's budgeted cost of goods sold is $78,000 cent of the following month's cost of Required d a. Complete the inventory purchases budget b 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 Complete this question by entering your answers in the tabs below Req A quarter pro forma income nventory the company wil report on its pro forma balance sheet at the end of the first quarter of Req A