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 goods sold $69,000 $79,000 $89,000 $95,000 Stuart had a beginning inventory balance of $3,400 on April 1 and a beginning balance in accounts payable of $15,300. The company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. Required Prepare an inventory purchases budget for April, May, and June. Determine the amount of ending inventory Stuart will report on the end-of-quarter pro forma balance sheet.