Blue Company estimates that 2017 sales will be $46,100 in quarter 1, $55,600 in quarter 2, and $59.600 in quarter 3. Cost of goods sold is 50% of sales Management desires to have ending finished goods inventory equal to 22% of the next quarter's expected cost of goods sold. Prepare a merchandise purchases budget by quarter for the first 6 months of 2017. BLUE COMPANY Merchandise Purchases Budget