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Inventory Purchases Budget Completion: LMN Company is preparing the Inventory Purchases Budget for the first quarter of 20X3 (Jan., Feb., and Mar.). The expected Sales
Inventory Purchases Budget Completion: LMN Company is preparing the Inventory Purchases Budget for the first quarter of 20X3 (Jan., Feb., and Mar.). The expected Sales in Units in January is 1,000 units with 250 units being added to that amount for February and an additional 250 added for March. April is expected to have the same number of units in Sales as March. The company wants to maintain an ending inventory amount equal to 20% of the next months Cost of Goods Sold. The expected cost of inventory is $20 per unit. The Beginning Inventory balance on Jan. 1 is zero (0). This question requires the completion of the inventory purchases budget. You will fill in the correct amount for each blank in the budget below. Please do not use dollar signs, commas, periods, or spaces. To avoid using decimals (i.e., periods), please round all answers to the nearest whole dollar, if necessary. This question requires the completion of the inventory purchases budget. You will fill in the correct amount for each blank in the budget below. Please do not use dollar signs, commas, periods, or spaces. To avoid using decimals (i.e., periods), please round all answers to the nearest whole dollar, if necessary. ion requires the completion of the inventory sudget. You will fill in the correct amount for each e budget below. Please do not use dollar signs, eriods, or spaces. To avoid using decimals (i.e., lease round all answers to the nearest whole dollar
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