Exercise 10.24 Your answer is partially correct. Try again. Sarasota's Jeans 'n Tees is a retailer specializing in designer jeans and T-shirts. The company expects to sell 9,000 pairs of jeans each quarter in the first two quarters, 18,000 pairs in the third quarter, and 13,000 in the fourth quarter. For T-shirts, sales are expected to be 18,000 each quarter for the first two quarters, 33,000 in the third quarter, and 23,000 in the fourth quarter. Managers would like to maintain an ending inventory equal to 20% of next quarter's sales, but they expect to have only 1,300 pairs of jeans and 1,850 T-shirts in beginning inventory. Prepare a quarterly purchases budget for jeans. Assume that the sales forecast for the first quarter of the following year is the same as the first quarter forecast for this year. Jeans Quarter 1st 2nd 3rd 4th Planned Sales 9000 9000 18000 13000 x Desired Ending Inventory 1300 1300 1300 1300 X Total Required x x x Planned Beginning Inventory x Total Purchases Prepare a quarterly purchases budget for T-shirts. Assume that the sales forecast for the first quarter of the following year is the same as the first quarter forecast for this year. Prepare a quarterly purchases budget for T-shirts. Assume that the sales forecast for the first quarter of the following year is the same as the first quarter forecast for this year. T-Shirts Quarter 1st 2nd 3rd 4th Planned Sales 18000 18000 33000 23000 X X X Desired Ending Inventory 1850 1850 1850 1850 Total Required x x X Planned Beginning Inventory X Total Purchases