Franklin Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following

inventory purchases budget. Franklin's policy is to maintain an ending inventory balance equal to $10$ percent of the following

month's cost of goods sold. April's budgeted cost of goods sold is $$79,000.$

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.

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Complete the inventory purchases budget by filling in the missing amounts.