Munoz Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inwentory purchases budget Munoz's policy is to maintain an ending inventory balance equal to 15 percent of the following month's cost of goods sold April's budgeted cost of goods sold is 579,000 Required o. Complete the inventory purchases budget by filling in the missing amounts, b. Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement c. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter Complete this question by entering your answers in the tabs below. ROGA Req Band Complete the Inventory purchases budget by filling in the missing amounts, Inventory Purchases Budget January February March Budgeted cost of goods sold $ 53,000 S 57.000 $ 63,000 8,550 Inventory needed 61 550 7950 Required purchases con account) $ 53,600 SRA Req Band C > Exercise 14-7A (Algo) Preparing an inventory purchases budget LO 14-3 Munoz Company sells lamps and other lighting fixtures. The purchasing department manager prepa purchases budget . Munoz's policy is to maintain an ending inventory balance equal to 15 percent of goods sold. April's budgeted cost of goods sold is $79,000. Required a. Complete the inventory purchases budget by filling in the missing amounts. b. Determine the amount of cost of goods sold the company will report on its first quarter pro forma c. Determine the amount of ending inventory the company will report on its pro forma balance shee Complete this question by entering your answers in the tabs below. Req A Reg B and c Determine the amount of cost of goods sold the company will report on its first quarter pro forma incom Determine the amount of ending inventory the company will report on its pro forma balance sheet at the quarter b Cost of goods sold Ending inventory