0.68/1 Zeller Company estimates that 2020 sales will be $40,000 in quarter 1, $48,000 in quarter 2, and $58,000 in quarter 3, Cost of goods sold is 50% of sales. Management desires to have ending finished goods inventory equal to 10% of the next quarter's expected cost of goods sold. Prepare a merchandise purchases budget by quarter for the first 6 months of 2020. ZELLER COMPANY Merchandise Purchases Budget For the Sox Months Ending June 30, 2020 ~ Quarter 2 Budgeted Cost of Goods Sold 40,000.do $ 48.000.00 Add M Desired Ending Merchandise Inventory 20,000.00 24.000.00 Total Required Units 2,400.00 2.900.00 Less & Beginning Merchandise Inventory ZELLER COMPANY Merchandise Purchases Budget For the Six Months Ending June 30, 2020 Quarter 2 40,000.00 $ udgeted Cost of Goods Sold vdd Desired Ending Merchandise Inventory 20.000.00 otal Required Units 2.400.00 RSS Beginning Merchandise Inventory 2,000.00 lequired Merchandise Purchases 20,400.00 48,000.00 24,000.00 2,900.00 2.400.00 24,500.00