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 $75,000 May $85,000 June $95,000 July $101,000 Munoz had a beginning inventory balance of $3,300 on April 1 and a beginning balance in accounts payable of $15,400. The company desires to maintain an ending inventory balance equal to 15 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 Determine the amount of ending inventory Munoz will report on the end-of-quarter pro forma balance sheet............... Ending inventory $ 15,150 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 Bestat coat or sets sold set to sto se ko subino April $75,000 May $85,000 June $95,000 July $101,000 Munoz had a beginning inventory balance of $3,300 on April 1 and a beginning balance in accounts payable of $15,400. The company desires to maintain an ending inventory balance equal to 15 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 Budgeted cost of goods sold Plus: Desired ending inventory Inventory needed Less: Beginning inventory Required purchases (on account) April $ 75,000 12,750 87,750 3,300 $ 84,450 May 85,000 14.250 99,250 12,750 86,500 June $ 95,000 15,150 110,150 14.250 $ 95,900 $ Required A Required B > 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 $75,000 May $85,000 June $95,000 July $101,000 Munoz had a beginning inventory balance of $3,300 on April 1 and a beginning balance in accounts payable of $15,400. The company desires to maintain an ending inventory balance equal to 15 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 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 Payment of current accounts payable Payment of previous accounts payable Total budgeted payments for inventory 0 $ 0 $ Munoz, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July April $75,000 Budgeted cost of goods sold May $85,000 June $95,000 July $101,000 Munoz had a beginning inventory balance of $3,300 on April 1 and a beginning balance in accounts payable of $15,400. The company desires to maintain an ending inventory balance equal to 15 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 Determine the balance in accounts payable Munoz will report on the end-of-quarter pro forma balance sheet. Accounts payable