Carlson Pool Supplies's cost of goods sold is 60% of sales and We desired ending inventory balance each month is 20% of the next month's cost of goods sold. Carlson Pool Supplies makes all purchases on account and typically pays 70% of purchases in the month of purchase and the remaining 30% in the next month. The balance in accounts payable at June 30 is $30,000

a. Prepare an inventory purchases budget for July and August only.

b. Prepare the schedule of cash payments for inventory purchases for August only.

Carlson Pool Supplies sells inflatable swans. The company has shared its sales budget for the third quarter of 2023: Carlson Pool Supplies's cost of goods sold is 60% of sales and the desired ending inventory balance each month is 20% of the next pays 70% of purchases in the month of purchase and the remaining 30% in the next month. The balance in accounts payable at June Show all calculations for credit. a. Prepare an inventory purchases budget for July and August only. b. Prepare the schedule of cash payments for inventory purchases for August only