had a beginning inventory balance of $3,800 on April1 and a beginning balance in accounts payable of $15,500. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Walton makes all purchases on account. The company pays 65 perce the month following purchase. nt of accounts payable in the month of purchase and the remaining 35 percent in Required a. Prepare an inventory purchases budget for April, May, and June. b. Det c. Prepare a schedule of cash payments for inventory for April, May, and June the amount of ending i d. Determine the balance in accounts payable Walton will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs belovw budget for April, May, and June. cost of goods sold 70,000 80,000 S 60,000$70,000 $ 80.000 alton had a beginning inventory balance of $3,800 on April 1 and a beginning balance in accounts payable of $15,500. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Walton 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 following purchase. Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory Walton 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 Walton will report on the end-of-quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Reqired A Requireg 8 | Required C Required D Determine the amount of ending inventory Walton will report on the end-of-quarter pro forma balance sheet. had a beginning inventory balance of $3,800 on April 1 and a beginning balance in accounts payable of $15,500. The company desires to maintain an ending inventory balance equal to 10 percent of the next perlod's cost of goods sold. Walton makes all purchases on account. The company pays the month following purchase. 65 percent of accounts payable in the month of purchase and the remaining 35 percent in Required a. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount o c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Walton will report on the end-of-quarter pro forma balance sheet f ending inventory Walton 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 BRequired C Required D Prepare a schedule of cash payments for inventory for April, May, and June. (Round your final answers to the nearest whole dollar.) April May June Schedule of Cash Payments s payable Total budgeted payments for inventory Walton had a beginning inventory balance of $3,800 on April 1 and a beginning balance in accounts payable of $15,500. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Walton 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 following purchase. Required n. Prepare an inventory purchases budget for April, May, and June. b. Determine the amount of ending inventory c. Prepare a schedule of cash payments for inventory for April, May, and June. d. Determine the balance in accounts payable Walton will report on the end-of quarter pro Walton 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 RequiredD sheet. ine the balance in accounts payable Walton will report on the end-of-quarter pro forma balance uneJuly April $60,000$70,000 $80,000 $86,000 May Budgeted cost of goods sold Walton had a beginning inventory balance of $3,800 on April 1 and a beginning balance in acc company desires to maintain an ending inventory balance equal to 10 percent of the next peri makes all purchases on account. The company pays 65 percent of accounts payable in the mo remaining 35 percent in the month following purchase