Fosnight Enterprises prepared the following sales budget: Month Budgeted Sales March $6,000 April S13,000 May $12,000 June $14,000 The expected gross profit rate is 30% and the inventory at the end of February was $10,000. Desired inventory levels at the end of the month are 20% of the next month rsquo s cost of goods sold. What are the total purchases budgeted for May? $10,080 $8,120 $8,680 $8,960 Sander Enterprises prepared the following sales budget Month Budgeted Sales March $8,000 April $13,000 May $12,000 June $14,000 The expected gross profit rate is 40% and the inventory at the end of February was $10,000. Desired inventory levels at the end of the month are 20% of tire next month rsquo s cost of goods sold. What is the desired beginning inventory on June 1? $1,120 $8,400 $1,440 $1,680 Sander Enterprises prepared the following sales budget: Month Budgeted Sales March $8,000 April $13,000 May $12,000 June $14,000 The expected gross profit rate is 40% and the inventory at the end of February was $10,000. Desired inventory levels at the end of the month are 20% of the next month rsquo s cost of goods sold. What is the desired ending inventory on May 31? $8,400 $1,120 $1,680 $1,440