Check my work 2 Hardy Company's cost of goods sold is consistently 60% of sales. The company plans ending merchandise inventory for each month equal to 30% of the next month's budgeted cost of goods sold. All merchandise is purchased on credit, and 50% of the purchases made during a month is paid for in that month. Another 45% is paid for during the first month after purchase, and the remaining 5% is paid for during the second month after purchase. Expected sales are: August (actual), $395,000; September (actual), $410,000; October (estimated), $280,000; and November (estimated), $390,000. 15 points Skipped Use this information to determine October's expected cash payments for purchases. alculate Monthly Purchases eBook August September October Hint Budgeted ending inventory Print Roferonces Required available inventory Required purchases alculate Payments Made for Inventory: Purchases paid in - September Purchases August October After October August purchases September purchases October purchases ine October's Expected Cash Payments for Purchases. October's expected cash payments for purchases Graw Hill