(Solved by Humans)-Zango Stores plans the following inventory levels (at cost) on one of the items sold in the store

Question

Zango Stores plans the following inventory levels (at cost) on one of the items sold in the stores. The inventory at the end of May should be N1,700,000; June N1,500,000; July N1,900,000 and August N1,600,000. Sales on the item are expected to be: June N3,500,000; July N2,500,000 and August N3,300,000. Cost of goods sold is 60% of sales value. The business estimated purchases in April is expected to be N1,900,000 and in May N1,600,000. A given month?s purchases are to be paid asfollows: 10% during the month; 80% the next month and the final 10% two months after.Required:Prepare purchases budget for the months of June, July and August. Prepare also disbursements budget on Purchases for the three-month period.