Design Lighting Supply plans inventory levels (at cust) at the end of each month as follows: May, S273,000; June, 5224,000; July, $206,000: and August. $247.000. Sales are expected to be June, 5440,000: July, $366.000: and August, $308.000. Cost of goods sold is 60% of sales. Purchases in April were 5264,000 and in May they were $180,000. Payments for each month's purchases are made as follows: 15% during that month, 70% the next month, and the final 15% the next month. Requirement 1. Prepare budget schedules for June, July, and August for purchases and for disbursements for purchases. Prepare budget schedules for June July, and August for purchases. June July August Purchases budget Desired ending inventory Plus: Cost of goods sold Total merchandise needed Less: Beginning inventory Required purchases Prepare budget schedules for June, July, and August for disbursements for purchases. (Round your answers to the nearest whole collar.) June August Disbursements for purchases 15 % of this months purchases 70 % of last months purchases 15 % of second last months purchases Disbursements for purchases