Required information [The following information applies to the questions displayed below.] Each gallon of Old Brut, a popular aftershave lotion, requires 3 ounces of ocean scent. Budgeted production of Old Brut for the first three quarters of 2022 is as follows: Management's policy is to have on hand at the end of every quarter enough ocean scent inventory to meet 39% of the next quarter's production needs. At the beginning of Quarter I, 14,040 ounces of ocean scent were on hand. Required: 1. Calculate the number of ounces of ocean scent to be purchased in each of the first two quarters of 2022
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