$(40$ points$)$ Company ABC has adopted the following policies regarding merchandise

purchases and inventory. At the end of any month, the inventory should be $$15,000$ plus $90\%$

of the cost of goods to be sold during the following month. The cost of merchandise sold

averages $60\%$ of sales. Purchase terms are generally net, $30$ days. A given month's purchases

are paid as follows: $25\%$ during that month and $75\%$ during the following month.

Purchases in May had been $$150,000$ and the inventory on May $31$ was higher than planned at

$$210,000.$ The manager was upset because the inventory was too high. Sales are expected to

be June, $$300,000$; July, $$290,000$; August, $$340,000$; and September, $$395,000.$

$(1)$ Compute the amount by which the inventory on May $31$ exceeded the company's policies

$(10$ points$).$

$(2)$ Prepare budget schedules for June, July, and August for purchases and for disbursements

for purchases $(30$ points$).$