Big Sound, a merchandising company specializing in home computer speakers, budgets its monthly cost of goods sold to equal 70% of sales.its inventory policy calls for ending inventory in each month to equal 20% of the next months budgeted cost of goods sold. all purchases are on credit and 25% of the purchases in a month is paid for in the same month. another 60% is paid during the first month after purchase, and the remaining 15% is paid for in the second month after purchase. the following sales budgets are set: July, $350,000; August $290,000; September $320,000; October $ 275,000; and November $ 265,000 compute the following (1) budgeted merchandise purchases for july,august, september, andoctober (2) budgeted payments on accounts payable for september and octorber and (3) budgeted ending balances of accounts payable for september and octorber