(Answered) Question - budgeted sales of gloves for perfect fit hands

Accounting

Question - Budgeted sales of gloves for Perfect Fit Hands for the first six months of the year 2014 are as follows:

Months Unit Sales

January 700,000

February 820,000

March 760,000

April 720,000

May 1,280,000

June 1,500,000

The beginning inventory for 2014 is 210,000 units. The budgeted inventory at the end of a month is 30 percent of units to be sold the following month. Purchase price per unit is $7 per unit.

Required: Prepare a purchases budget in units and dollars for each month, January through May.

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