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Lexi Company forecasts unit sales of 1,680,000 in April, 1.290,000 in May. 520,000 in June, and...

Question:

Lexi Company forecasts unit sales of 1,680,000 in April, 1.290,000 in May. 520,000 in June, and 1710,000 in July. Beginning i

Lexi Company forecasts unit sales of 1,680,000 in April, 1.290,000 in May. 520,000 in June, and 1710,000 in July. Beginning inventory on April 1is 230,000 units, and the company wants to have 40% of next month's sales in inventory at the end of each month. Prepare a merchandise purchases budget for the months of April, May, and June LEXI COMPANY Merchandise Purchases Budget For April, May, and June April Next month's budgeted sales (units) 1.290.000 Ratio of inventory to future sales 40% Beginning inventory (units) Budgeted units sales for month Requred units of available inventory Budgeted ending inventory (units) Units to be purchased May 520.000 40% June 1.710,000 40%

Answers

Merchandise purchases budget

April may June
Next month budgeted sales 1290000 520000 1710000
Ratio of inventory to future sales 40% 40% 40%
Desired ending inventory 516000 208000 684000
Budgeted sales 1680000 1290000 520000
Total 2196000 1498000 1204000
Less: Beginning inventory -230000 -516000 -208000
Required purchase 1966000 982000 996000
.

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