Check my work 10 Thornton, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May. June, and July 25 points Budgeted cost of goods sold April May June July $79,000 $89,000 $99,000 $105,000 eBook Print Thomton had a beginning inventory balance of $4,200 on April 1 and a beginning balance in accounts payable of $14,000. The company desires to maintain an ending inventory balance equal to 15 percent of the next period's cost of goods sold. Thornton makes all purchases on account. The company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. References Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Thornton will report on the end-of-quarter pro forma balance sheet c. Prepare a schedule of cash payments for inventory for April, May, and June d. Determine the balance in accounts payable Thornton will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Required c Required D Me Graw Book Required A Required B Required c Required D Print Prepare an inventory purchases budget for April, May, and June. erences Inventory Purchases Budget Budgeted cost of goods sold April 79,000 May 89.000 June $ 99,000 $ $ Inventory needed Required purchases (on account) Required B >