Question: Wallace Company provides the following data for the next year: Month Budgeted Sales January $120,000 February $108,000 March $132,000 April $144,000. The gross profit rate

Wallace Company provides the following data for the next year: Month Budgeted Sales January $120,000 February $108,000 March $132,000 April $144,000. The gross profit rate is 40% of sales. Inventory at the end of December is $21,600 and target ending inventory levels are 30% of next month’s sales, stated at cost

Purchases budgeted for January total ___?

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