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Stuart, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July June Hudgeted cost

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Stuart, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July June Hudgeted cost of goods sold July $66,000 $76,000 $86,000 $92,000 April Stuart had a beginning Inventory balance of $4,200 on April 1 and a beginning balance in accounts payable of $14,600. The company desires to maintain an ending inventory balance equal to 15 percent of the next period's cost of goods sold. Stuart makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 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 Stuart 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 Stuart 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 Required D Prepare an inventory purchases budget for April, May, and June. Inventory Purchases Budget Budgeted cost of goods sold April $ 66,000 May June 78,000 $80,000 Inventory needed Required purchases con account) Required B > Stuart, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July April May June July Budgeted cost of good old $66,000 $75,000 $86,000 $92,000 Stuart had a beginning Inventory balance of $4,200 on April 1 and a beginning balance in accounts payable of $14,600. The company desires to maintain an ending inventory balance equal to 15 percent of the next period's cost of goods sold. Stuart makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 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 Stuart 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 Stuart 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 Required Determine the amount of ending Inventory Stuart will report on the end-of-quarter pro forma balance sheet. Ending inventory (Required A Required c> Stuart, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July April Ray June July Budgeted cont of goods sold $66.000 $76,000 $86,000 $92,000 Stuart had a beginning Inventory balance of $4,200 on April 1 and a beginning balance in accounts payable of $14,600. The company desires to maintain an ending Inventory balance equal to 15 percent of the next period's cost of goods sold. Stuart makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the month following purchase Required m. Prepare an inventory purchases budget for April, May, and June b. Determine the amount of ending inventory Stuart 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 Stuart 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 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) Schedule of Cash Payments April May uno Payment of current accounts payable Payment of previous accounts payable Total budguted payments for inventory Stuart, Inc sells fireworks. The company's marketing director developed the following cost of goods sold budget for Aprill, May, June, and July April July Hodgeted cont of goods told $76,000 $92,000 May $66,000 June 586,000 Stuart had a beginning inventory balance of $4,200 on April 1 and a beginning balance in accounts payable of $14,600. The company desires to maintain an ending inventory balance equal to 15 percent of the next period's cost of goods sold, Stuart makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 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 Stuart 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 Stuart 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 Required Required D Determine the balance in accounts payable Stuart will report on the end-of-quarter pro forma balance sheet. Accounts payable

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