Assume that a merchandising company prepared the following sales budget September October $ 600,000 November $750,000 December $ 800,000 $ 900,000 The following information is also available: Desired ending inventory is $20.000 plus 70% of the next month's cost of goods sold Cost of goods sold is always 60% of sales Merchandise purchases are paid 30% in the current month and 70% in the next month Budgeted sales each month are 70% credit and 30% cash . 40% of credit customers pay in the current month, 50% pay in the first month after the salo, and 10% pay in the second month ofter the sale What are the budgeted merchandise purchases for November? Multiple Choice 5522000 $450,000 $438,000 $550.000