Problem 9.5_8Points Problem 9.9 _ 5 Points Student Name: Student ID Problem 9.5 The Manu Hotel is located close to Manchester United's football stadium. It has a souvenir shop that sells two main product lines: hats and scarves in the Manchester United colours. The quarterly sales QUARTER HATS SCARVES 1,200 600 800 400 600 300 -400 700 It is expected that the shop will be holding 240 hats and 180 scarves in stock at the beginning of the year. The shop manger always likes to keep 20 per cent of the next quarter's hat sales in stock and 30 in the first quarter of the following year are expected to be 25 per cent higher than the first quarter of the forthcoming year. Required: Prepare the quarterly purchases budget for hats and scarves for the forthcoming year. Answer Quarterly purchases budget for hats Required closin inventory Sales Available inv. Less openin inventory Hat purchases Quarterly purchases budget for scarves Required closin inventory Sales Less openin inventory Hat purchases