Pantheon Company has prepared the following forecasts of monthly sales:
July
August
September
October
Sales (in units)
4,300
5,100
3,800
2,500
Pantheon has decided that the number of units in its inventory at the end of each month should equal 80% of the next month''s sales. The budgeted cost per unit is $15.
(1) How many units should be in July''s beginning inventory?
(2) What amount should be budgeted for the cost of merchandise purchases in July?
(3) How many units should be purchased in September?