Jasper Fruits Corporation wholesales peaches and oranges. Barbara Jasper is working with the companys accountant to prepare next years budget. Ms. Jasper estimates that sales will increase 5 percent for peaches and 10 percent for oranges. The current years sales revenue data follow.

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
Peaches	$	221,000		$	241,000		$	301,000		$	241,000		$	1,004,000
Oranges		406,000			456,000			576,000			386,000			1,824,000
Total	$	627,000		$	697,000		$	877,000		$	627,000		$	2,828,000

Based on the companys past experience, cost of goods sold is usually 65 percent of sales revenue. Company policy is to keep 20 percent of the next periods estimated cost of goods sold as the current periods ending inventory. (Hint: Use the cost of goods sold for the first quarter to determine the beginning inventory for the first quarter.)

Required

1. Ms. Jasper estimates next years ending inventory will be $34,600 for peaches and $56,100 for oranges. Prepare the companys inventory purchases budgets for the next year, showing quarterly figures by product.