Midland Company buys tiles and prints different designs on them for souvenir and gift stores. It buys the tiles from a small company in Europe, so at all times it keeps on hand a stock equal to the tiles needed for three months sales. The tiles cost $1.25 each ond must be paid for in cash. The company has 27.000 tiles in stock. Sales estimates, based on contracts received, are as follows for the next six months: January 13,000 February 18,800 Hanch 13,000. April 14,000 May June 9,700 7,700 Required: a. & b. Estimate purchases (in units) and cash required to make purchases in January. February, and March MIDLAND COMPANY Merchandise Purchases Budget For the Period Ended March 31 Units to be purchased Estimated cost (in units) January February March