Powerpoint Company, a wholesaler of grain, has a sales budget for July of $300,000. Sales are expected to increase at a rate of 10% per month. The cost of grain is expected to be 40% of sales each month. All purchases are paid for in the month following purchase. The opening inventory (1^st July) of grain is $10,000, and the desired closing inventory level is 10% of the amount required to meet the following months sales. The opening balance of accounts payable is $76,000.

A)The cost of grains sold during July is expected to be?The answer should be 120,000

B)The budgeted purchases during July is expected to be?The answer should be 123,200

Can you please help me with calculations,thanks.