Month Sales (units) b. What are costs of goods sold in total and for each of the six months ending June 302 Month Cost of Goods Beginning inventor January February March April May June Totals 1,500 1,600 1,750 3,100 4,500 4.800 17,250 Units 1.250 1,000 1,200 1,700 2,900 5,000 4,500 Purchases Price Ea. $4.00 $4.50 $4.60 $4.40 $4.75 $4.85 $4.90 $ $ $ $ $ $ $ $ $ Total 5.000 4,500 5,520 7,480 13,775 24,250 22.050 82,575 17,550 a. What is ending inventory in dollars and units, at June 30? Units Dollars c. Determine the amount of inventory purchases budgeted for July. Beg. Inventory + Purchases - Cost of Goods Sold = Ending Inventory First Quarter Second Quarter Total d. Determine the amount of cash payments budgeted for inventory purchases in July. Sales Revenue Cost of Goods Sold Gross Profit Selling and Admin. Expenses Net Income Prepare a pro forma income statement including quarterly budgets First Quarter Second Quarter Total Sales Revenue Cost of Goods Sold Gross Profit Selling and Admin. Expenses Net Income Month Sales (units) b. What are costs of goods sold in total and for each of the six months ending June 302 Month Cost of Goods Beginning inventor January February March April May June Totals 1,500 1,600 1,750 3,100 4,500 4.800 17,250 Units 1.250 1,000 1,200 1,700 2,900 5,000 4,500 Purchases Price Ea. $4.00 $4.50 $4.60 $4.40 $4.75 $4.85 $4.90 $ $ $ $ $ $ $ $ $ Total 5.000 4,500 5,520 7,480 13,775 24,250 22.050 82,575 17,550 a. What is ending inventory in dollars and units, at June 30? Units Dollars c. Determine the amount of inventory purchases budgeted for July. Beg. Inventory + Purchases - Cost of Goods Sold = Ending Inventory First Quarter Second Quarter Total d. Determine the amount of cash payments budgeted for inventory purchases in July. Sales Revenue Cost of Goods Sold Gross Profit Selling and Admin. Expenses Net Income Prepare a pro forma income statement including quarterly budgets First Quarter Second Quarter Total Sales Revenue Cost of Goods Sold Gross Profit Selling and Admin. Expenses Net Income