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Exercise 21-7 Rensing Ltd. estimates sales for the second quarter of 2017 will be as...

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Exercise 21-7 Rensing Ltd. estimates sales for the second quarter of 2017 will be as follows. Month April May June Units 2,560 2,420 2,340 The target ending inventory of finished products is as follows. March 31 2,040 April 30 2,200 May 31 2,200 June 30 2,300 2 units of material are required for each unit of finished product. Production for July is estimated at 2,800 units to start building inventory for the fall sales period. Rensing s policy is to have an inventory of raw materials at the end of each month equal to 50% of the following month's production requirements Raw materials are expected to cost $7 per unit throughout the period. Calculate the May raw materials purchases in dollars Raw material purchases cost Ooen Show.Work Click if you would like to Show Work for this

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