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Industries manufactures and sells a product called Spector. Northwest plans to sell 3,400 units of...

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Accounting

Industries manufactures and sells a product called Spector. Northwest plans to sell 3,400 units of Spector in 2020. It had an inventory of 240 units of Spector at the end of 2019, and it plans to have an ending inventory of 350 units of Spector at the end of 2020.

Each unit of Spector requires three units of a component material called Gleam. Each unit of Gleam costs $17. There were 140 units of Gleam in inventory at the end of 2019. Management does not want to have any inventory of Gleam at the end of 2020. What is the amount budgeted for purchases of Gleam in 2020?

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