Check my work Humboldt, Inc, sells fireworks. The company's marketing director developed the following cost of goods sold budget for April May, June, and July Budgeted cost of goods sold April May June July $37,500 $34,000 $30,000 $45,000 eBook Print Humboldt had a beginning inventory balance of $1,800 on April 1 and a beginning balance in accounts payable of $7,400. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Humboldt makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the month following purchase. ferences Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Humboldt 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 Humboldt 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 TOCK my work 4 Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare an inventory purchases budget for April, May, and June. Book Print Inventory Purchases Budget Budgeted cost of goods sold April 37.500 May 34,000 June 30,000 erences Inventory needed 37,500 34,000 30,000 Required purchases (on account) $ 37,500 $ 34,000 $ 30,000 Required B > complete this question by entering your answers in the tabs pelow. Required A Required B Required C Required D Determine the amount of ending inventory Humboldt will report on the end-of-quarter pro forma balance sheet. Ending inventory Complete this question by entering your answers in the tabs below. nces Required A Required B Required C Required D Prepare a schedule of cash payments for inventory for April, May, and June. April May June Schedule of Cash Payments Payment of current accounts payable Payment of previous accounts payable Total budgeted payments for inventory 0 $ 0 $ 0 Suryurved udarle sieel ok Complete this question by entering your answers in the tabs below. int ences Required A Required B Required C Required D Determine the balance in accounts payable Humboldt will report on the end-of-quarter pro forma balance sheet. Accounts payable Required C