On March 31, Streuling Enterprises, a merchandising firm, had an inventory of 38,000 units,

and it had accounts receivable totaling $85,000. Sales, in units, have been budgeted as follows

for the next four months:

April 60,000

May 75,000

June 90,000

July 81,000

Streuling's board of directors has established a policy to commence in April that the inventory

at the end of each month should contain 40% of the units required for the following month's

budgeted sales.

The selling price is $2 per unit. One-third of sales are paid for by customers in the month of

the sale; the balance is collected in the following month.

Please SHOW ALL CALCULATIONS