Wilson Company had $200,000 of cost of goods sold during June. The company projects a 5% increase in cost of goods sold during July. The inventory balance as of June 30 is $15,000 and the desired ending inventory balance for July is $16,000. Wilson pays for 70 percent of its inventory purchases in the month of the purchase and the remaining 30 percent the following month. The accounts payable balance at the end of June was $18,000. What are Wilson Company's budgeted inventory purchases for July? Question 7 0.5 pts Wilson Company had $200,000 of cost of goods sold during June. The company projects a 5% increase in cost of goods sold during July. The inventory balance as of June 30 is $15,000 and the desired ending inventory balance for July is $16,000. Wilson pays for 70 percent of its inventory purchases in the month of the purchase and the remaining 30 percent the following month. The accounts payable balance at the end of June was $18,000. What are Wilson Company's budgeted cash payments in July for inventory purchases