value: 6.25 points Midland Company buys tiles and prints different designs on them for souvenir and gift stores. It buys the tiles from a small company in Europe, so at all times it keeps on hand a stock equal to the tiles needed for three months' sales. The tiles cost $0.75 each and must be paid for in cash. The company has 27,000 tiles in stock. Sales estimates, basec on contracts received, are as follows for the next six months January February March April May June 11,500 18,600 14,100 14,000 9,100 7,600 Required: a. & b. Estimate purchases (in units) and cash required to make purchases in January, February, and March MIDLAND COMPANY Merchandise Purchases Budget For the Period Ended March 31 (in units) January February March Units to be purchased Estimated cost