Check my work Problem 14-18A (Algo) Preparing an inventory purchases budget and schedule of cash payments LO 14. 3 Campbell , Inc, sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May June, and July valgeted cost of goods sola April 399.000 559.000 $99,000 July $105,000 Campbelt had a beginning inventory balance of $3,400 on April 1 and a beginning balance in accounts payable of 55300. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold Campbell 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 foowing purchase Required s. Prepare an inventory purchases budget for April May, and une b. Determine the amount of ending inventory Campbell 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 Camper will report on the end-of-quarter pro forma balance sheet Complete this question by entering your answers in the tabs below. AM VE 5105 * 2 a. Prepare an inventory purchases budget for April, May, and June b. Determine the amount of ending inventory Campbell 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 Campbell will report on the end of quarter pro forma balance sheet Complete this question by entering your answers in the tabs below. OK Required A Required B Required wrences Required D Prepare an inventory purchases budget for April, May, and June. Inventory Purchases Budget Budgeted cost of goods sold April May June 5 79.000 $89.000 $ 99.000 Inventory needed Required purchases (on account) Required B > a. Prepare an inventory purchases budget for April, May, and June b. Determine the amount of ending inventory Campbell 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 Campbell 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 Required D Determine the amount of ending inventory Campbell will report on the end-of-quarter pro forma balance sheet. Ending inventory
