Exercise 20-3 Manufacturing: Production budget LO P1 Ruiz Co provides the following sales forecast for the next four months. Sales (units) April 500 May 580 June 530 July 620 The company wants to end each month with ending finished goods inventory equal to 40% of next month's forecasted sales. Finished goods inventory on April 1 is 200 units. Prepare a production budget for the months of April, May, and June. RUIZ CO. Production Budget For April, May, and June April Next month's budgeted sales (units) 580 Ratio of inventory to future sales 40% May June 620 530 Required units of available production Units to be produced