Spencer Company sells lamps and other the following inventory purchases budget to 15 percent of the following month's cost of goods sold April's budgeted cost of goods sold is $76 000 Required: a. Complete the inventory purchases budget by flling in the missing amounts fxtures The purchasing department manager prepared s policy is to maintain an ending inventory balance equal Inventory Purchases Budget March Budgeted cost of goods sold 52,000 56,000 62.000 Plus: Desired ending inventory inventory needed Less. Beginning inventory Required purchases (on account) 52.600 8.400 60,400 7.800 b. Determine the amount of cost of goods sold the company will report on its lrot quarter pro forma income statement of c. Determine the amount of end of the first quarter y he company wil l eport on ith pro forma balanice sheot a he