Hardy Company's cost of goods sold is consistently 60% of sales. The company plans ending merchandise inventory for each month equal to 20% of the next month's budgeted cost of goods sold. All merchandise is purchased on credit, and 40% of the purchases made during a month is paid for in that month. Another 45% is paid for during the first month after purchase and the remaining 15% Is paid for during the second month after purchase Expected sales are August (actual), S405,000. September (actual). $390,000 October (estimated). $330.000, and November (estimated), $370,000. Use this information to determine October's expected cash payments for purchases Calculate Monthly Purchases: August September October Budgeted ending inventory 4 November Required available inventory $ 0$ Required purchases 05 es Calculate Payments Made for Inventory: Purchases paid in September October Purchases August After October August purchases September purchases October purchases 0 Determine October's Expected Cash Payments for Purchases October's expected cash payments for purchases