I could use some help understanding how to do this.

Problem 14-18A (Algo) Preparing an inventory purchases budget and schedule of cash payments LO 14. 3 Benson, 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 goods sold $67.000 $77,000 $87,000 $93,000 Benson had a beginning inventory balance of $3,500 on April 1 and a beginning balance in accounts payable of 515,700. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Benson 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 Benson 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 Benson 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 Prepare an Inventory purchases budget for April, May, and June Inventory Purchases Budget Budgeted cost of goods sold April $ 67 000 $ May June 77.000 5 87.000 Inventory needed 67.000 77.000 B7.000 Required purchases on account) $ 67.000 5 77,000 $87,000 April May June Schedule of Cash Payments Payment of current accounts payable Payment of previous accounts payable Total budgeted payments for inventory 0 0 S 0 Accounts payable