Ahmed Company purchases all merchandise on Credit It recently budgeted the month-end accounts payable balances and merchandise inventory balances below. Cash payments on accounts payable during each month are expected to be May, $4500,000: June, $1.490,000: July, $1425.000, and August, $1.495.000 Accounts Merchandise Payable Inventory May 31$ 150,000 $250,000 June 300.000 400.000 30 July 235,000 August 195,000 300,000 330,000 August (1) Compute the budgeted amounts of merchandise purchases. Budgeted amounts: June July Ending accounts payable Payments on account Subtotal | Beginning accounts payable Purchases $ 0 $ 0 S 0 (2) Compute the budgeted amounts of cost of goods sold. Budgeted amounts: June July August Beginning inventory Purchases Cost of goods available for (400.000) (300.000 (330.000) Ending inventory Cost of goods sold