1. Fosnight Enterprises prepared the following sales budget:

   Month	Budgeted Sales
   March	$5000
   April	$14,000
   May	$13,000
   June	$14,000

   The expected gross profit rate is 20% and the inventory at the end of February was $5000. Desired inventory levels at the end of the month are 10% of the next month's cost of goods sold. What are the total purchases budgeted for April?

   		$11,280
   		$12,320
   		$1120
   		$11,120