Exercise 22-23A Merchandising: Preparation of purchases budgets (for three periods) LO P4 Walker Company prepares monthly budgets. The cument budget plans for a September ending inventory of 20,000 units. Company policy is to end each month with merchandise inventory equal to a specified percent of budgeted sales for the following month. Budgeted sales and merchandise purchases for the next three months follow. Sales (Units) Purchases (Units) July 227,000 220,000 290,000 293,000 August September 320,000 308,000