QS 20-26A (Algo) Merchandising: Cash payments for merchandise LO P4 Garda purchased $540,000 of merchandise in August and budgets merchandise purchases of $740,000 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 GARDA Schedule of Cash Payments for Merchandise Purchases September Merchandise purchases $ 740,000 Cash payments for Current period purchases Prior period purchases Total cash payments for merchandise purchases QS 20-28A (Algo) Merchandising: Computing purchases LO P4 Raider X Company budgets sales of 16,000 units for April and 18,000 units for May Beginning inventory on April 1 is 3,400 units, and the company wants to have 30% of next month's unit sales in inventory at the end of each month. The merchandise cost per unit is $2 Prepare a merchandise purchases budget for the month of April RAIDER X COMPANY Merchandise Purchases Budget April Budgeted sales units Next perlod budgeted sales units Ratio of inventory to future sales Total required units Units to be purchased Cost per unit Cost of merchandise purchases QS 20-30A (Algo) Merchandising: Computing merchandise purchases LO P4 Montel Company's July sales budget shows sales of $510,000. The company budgets beginning merchandise inventory of $52,000 and ending merchandise inventory of $30,000 for July Cost of goods sold is 30% 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 MONTEL COMPANY Budgeted Cost of Merchandise Purchases For Month Endod July