2 3 4 Question: Merchandise Purchases Budget (6 marks) In September 2022, the management of Whitehorse...

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2 3 4 Question: Merchandise Purchases Budget (6 marks) 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. Expected Sales Part a: Budgeted Cost of goods sold $ 500,000 $ 600,000 $ 700,000 35% 5 6 October 7 November 8 December 9 10 Cost of goods sold as a percentage of sales Desired ending inventory as % of next month's cost of 30% 11 goods sold 12 13 The beginning inventory will be the desired amount. 2 3 4 Question: Merchandise Purchases Budget (6 marks) 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. Expected Sales Part a: Budgeted Cost of goods sold $ 500,000 $ 600,000 $ 700,000 35% 5 6 October 7 November 8 December 9 10 Cost of goods sold as a percentage of sales Desired ending inventory as % of next month's cost of 30% 11 goods sold 12 13 The beginning inventory will be the desired amount.