QUESTION 2 - 8 MARKS You are a manager of a local tractor distributor. You currently sell two versions basic and deluxe. The owner has provided you with the following information: Budgeted sales for each quarter: 1st quarter........................ 2nd quarter............. 3rd quarter.......... 4th quarter............. 395.000 270,000 205,000 320,000 % of sales for each model: 60% Basic Deluxe 40% Cost of sales as a % of sales: Basic Deluxe 35% 15% Ending inventory as a % of the next quarter's needs: Basic Deluxe 30% 55% Required: Based on the above information prepare a separate purchases budget for the basic and deluxe models