QS 20-26A (Algo) Merchandising: Cash payments for merchandise LO P4 Garda purchased $640,000 of merchandise in August and budgets merchandise purchases of $700,000 in September. Merchandise purchases are paid as follows: 25% in the month of purchase and 75% in the month after the purchase. Prepare a schedule of cash payments for merchandise purchases for September. Raider- X Company budgets sales of 12,000 units for April and 14,000 units for May. Beginning inventory on April 1 is 4,800 units, and the company wants to have 40% of next month's unit sales in inventory at the end of each month. The merchandise cost per unit is $3. Prepare a merchandise purchases budget for the month of April. QS 20-30A (Algo) Merchandising: Computing merchandise purchases LO P4 Montel Company's July sales budget shows sales of $520,000. The company budgets beginning merchandise inventory of $50,000 and ending merchandise inventory of $35,000 for July. Cost of goods sold is 40% of sales. Determine the budgeted cost of merchandise purchases for July. Hint: Use the relation (Beginning Inventory + Purchases - Cost of Goods Sold = Ending Inventory) to solve for purchases