Munoz, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July. Budgeted cost of goods sold April May $69,000 $79,000 June July $89,000 $95,000 Munoz had a beginning inventory balance of $4,000 on April 1 and a beginning balance in accounts payable of $15,300. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Munoz makes all purchases on account. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 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 Munoz 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 Munoz 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 Required D Prepare an inventory purchases budget for April, May, and June. Inventory Purchases Budget April May June Budgeted cost of goods sold $ 69,000 $ 79,000 $ 89,000 Inventory needed Required purchases (on account)