B 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 $1.200.000 June. $1,350,000 July, $1,300,000 and August $1,300,000 Accounts Merchandise Payable Inventory May 31 $160,000 June 30 July 31 August 31 330,000 150,000 200.000 180,00 $240,000 400,00 400,000 BOL > August (1) Compute the budgeted amounts of merchandise purchases. Budgeted amount June July Ending accounts payable Payments on account Subtotal Beginning accounts payable Purchases S 015 OS g renced August (2) Compute the budgeted amounts of cost of goods sold. Budgeted amounts Jung July Beginning inventory Purchases Cost of goods available for sale Ending inventory (400.000) (400,000) Cost of goods sold 1330,000)