Attempt Progress Oriole Company estimates that 2022 sales will be $41,600 in quarter 1, $49,920 in quarter 2, and $60,320 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending merchandise 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 2022. ORIOLE COMPANY Merchandise Purchases Budget Quarter 1 2 Six Mo $ $ $ $ $ GA $