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Midland Company buys tiles and prints different designs on them for...

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Accounting

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Midland Company buys tiles and prints different designs on them for souvenir and gift stores. It buys the tiles from a small company in Europe, so at all times it keeps on hand a stock equal to the tiles needed for three months' sales. The tiles cost $1.25 each and must be paid for in cash. The company has 28,000 tiles in stock. Sales estimates, based on contracts received, are as follows for the next six months January February March April May June 12,700 18,400 13,700 14,300 10, see 7,100 Required: 6. & b. Estimate purchases (in units) and cash required to make purchases in January, February, and March MIDLAND COMPANY Merchandise Purchases Budget For the Period Ended March 3t in units) January February Units to be purchased Estimated cost March

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