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Prepare a purchases, cost of sales and inventory budget

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Question - Priestly Pty Ltd is an importer of a vital aeroplane engine component called a Shiny Widget (SW). Sales for March 2020 were 20,000 units and the number of units sold is expected to rise by 10% per month in 2020. The required ending inventory per month is estimated at 4,000 units plus 25% of the next month's unit sales. The cost of importing SWs is currently $8 per unit, but due to import taxes is expected to rise to $10 in June 2020. Inventory at 31st March 2020 is 15,000 SW units. Purchases are paid for in the month of purchase.

Required - Prepare a Purchases, Cost of Sales and Inventory Budget for the second Quarter of 2020 (April-June). Show clearly the purchases required in units and dollars for each month, and the totals for the quarter.

Reference no: EM132819961

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