More info a. Sales in April are expected to be $160,000. Fountain forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. b. Fountain maintains inventory of $7,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. c. Monthly salaries amount to $5,000. Sales commissions equal 5% of sales for that month. d. Other monthly expenses are as follows: - Rent: $3,000 - Depreciation: \$600 - Insurance: $400 - Income tax: $2,000 Data table tee of Fountain Offi: following data: to view the data.) ?nts. unts to the neares for April and M ata table tee of Fountain following data: to view the data ants. unts to the ne: tor April an $7,000+25% of cost of goods sold budgeted for following month Requirement 2. Prepare Fountain's inventory, purchases, and cost of goods sold budget for April and May. Get more help . ndise inventory $7,000+25% of cost of goods sold budgeted for following month $7,000+25%of$112,200 More info a. Sales in April are expected to be $160,000. Fountain forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. b. Fountain maintains inventory of $7,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. c. Monthly salaries amount to $5,000. Sales commissions equal 5% of sales for that month. d. Other monthly expenses are as follows: - Rent: $3,000 - Depreciation: \$600 - Insurance: $400 - Income tax: $2,000 Data table tee of Fountain Offi: following data: to view the data.) ?nts. unts to the neares for April and M ata table tee of Fountain following data: to view the data ants. unts to the ne: tor April an $7,000+25% of cost of goods sold budgeted for following month Requirement 2. Prepare Fountain's inventory, purchases, and cost of goods sold budget for April and May. Get more help . ndise inventory $7,000+25% of cost of goods sold budgeted for following month $7,000+25%of$112,200