Lexi Company forecasts unit sales of 1,820,000 in April, 1,220,000 in May, 760,000 in June, and 1,170,000 in July. Beginning inventory on April 1 is 320,000 units, and the company wants to have 20% of next month's sales in inventory at the end of each month. Prepare a merchandise purchases budget for the months of April, May, and June. Answer is complete but not entirely correct. June LEXI COMPANY Merchandise Purchases Budget For April, May, and June April Next month's budgeted sales (units) 1,220,000 Ratio of inventory to future sales 20% Budgeted ending inventory (units) 244,000 Budgeted units sales for month 1,464,000 Required units of available inventory 1,708,000 Beginning inventory (units) 320,000 Units to be purchased 1,388,000 May 760,000 20% 152,000 912,000 X 1,064,000 244,000 820,000 X 1,170,000 20% 234,000 1,404,000 1,638,000 152,000 1,486,000