Question 5: Master Budgeting Time: 30 minutes Total: 16 marks Guava Inc. has the following information: Month February March Budgeted Sales $60.000 51000 40,000 70,000 72,000 April | May June In addition, the cost of goods sold rate is 7094 and the desired inventory level is 30% of next month's cost of sales. Required: Prepare a purchases budget for April through June and summarize the total purchases for the quarter. oner open eventory of April - 10/0 gead solh Rate