Exercise 14-7A (Algo) Preparing an inventory purchases budget LO 14-3 14.28 points Book Hie Ask Prime lieferences Rooney Company sells lamps and other lighting foxtures. The purchasing department mariager prepared the following inventory purchases budget Rooney's policy is to maintain an ending inventory balance equal to 20 percent of the following month's cost of goods sold. April's budgeted cost of goods sold is $82,000 Required 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 Complete this question by entering your answers in the tabs below. Rea A Red Band C Complete the inventory purchases budget by filling in the missing amounts. Inventory Purchases Budget Budgeted cost of goods sold January February March 50,000 $62.000 s 68.000)