Pantheon Company Has Prepared the Following Forecasts of Monthly Sales

question 14

Essay

Pantheon Company has prepared the following forecasts of monthly sales:
$\begin{array}{llr}&\text { July}&\text { August}&\text { September}&\text { October }\\ \text {Sales (in units) } &4,500&5,300&4,000&3,700\end{array}$

Pantheon has decided that the number of units in its inventory at the end of each month should equal 25% of the next month's sales.The budgeted cost per unit is $30.
(1)How many units should be in July's beginning inventory?
(2)What amount should be budgeted for the cost of merchandise purchases in July?
(3)How many units should be purchased in September?

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Definitions:

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