Exercise 7-7B. Preparing an inventory purchtases budget Elgin Drugatores inc. sells prescription drugs, over-the-counter drugs, and worme groceries. The purchanieg manager prepared the following inventory purchaser budget For that year, Elein expects a ending intentory balance equal to 10 percent of the following month's cost of roods sold. Apral' budgeted coit of goouls sold amounts to 33 , soo Required 3. Complete the imentory gurchases budeet by fillitus in the mussing anounts b. Determine the ambunt of cost of goods sold the company will report on the first puarter pre forma income staicesent c. Determine the amount of ending inventory the company will repont on the fert quater feo ferma balance sheet