1 Question: Merchandise Purchases Budget (6 marks) 2 34 In September 2022, the management of Whitehorse Company assembled the following data in preparation of budgeted merchandise purchases for the months of October, November and December. Part a: Budgeted 5 6 October 7 November 8 December 9 10 Cost of goods sold as a percentage of sales Expected Sales Cost of goods sold $ 500,000 $ 600,000 $ 700,000 35% Desired ending inventory as % of next month's cost of 30% 11 goods sold 12 13 The beginning inventory will be the desired amount. 14 15 Required 16 Part A: Calculate the budgeted cost of goods sold for each month (above) 17 18 19 20 21 21 Part B: Calculate the budgeted merchandise purchases for November (6 marks) Show all amounts as POSITIVE numbers** Whitehorse Company Merchandise Purchases Budget For the Month of November 22 22 223 Total requirements