3. The sales manager of Ezra merchandising has budgeted the following sales for the 4th quarter of 2019: October November December P123,500 156,000 208,000 Other budget estimates are: - All merchandises are to sell at its invoice cost plus 30% mark-up. - Beginning of inventories of each month are budgeted at 40% of that particular month's projected cost of goods sold. Required: a. Determine the projected merchandise purchases for the month of October. b. Determine the projected merchandise purchases for the month of November