Paragraph Below is the estimated sales (in units): July 132,000 August 152,000 September 164,000 October 180,000 November 140,000 December 60,000 Styles a. The selling price of each toy is $15.00 per unit. b. All sales are on account. Based on past experience, sales are collected in the following pattern: + Month of sale 40% Month following sale 55% Uncollectible 5% c. Sales for June totaled $320,000. d. The company maintains finished goods inventories equal to 20% of the following month's sales. e. Each toy requires 4 pounds of raw materials. f. The company requires that the ending inventory of raw materials be equal to 15% of the following month's production needs. g. The raw material costs $5.00 per pound. h. 50% of a month's purchases of raw materials are paid for in the month of purchase; the remainder is paid for in the following month.