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Brooklyn Furniture, a retail store, has an average gross profil ration of 46%. The sales...

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Accounting

Brooklyn Furniture, a retail store, has an average gross profil ration of 46%. The sales forecast for the next four months follows:

July $250,000

August $220,000

September $310,000

October $400,000

Management's inventory policy is to have ending inventory equal to 300% of the cost of sales for the subsequent month, although it is estimated that teh cost of inventory at June 30 will be $410,000.

Required: Calculate the purchases budget, in dollars, for the months of July and August.

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