Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow. Sales are budgeted at $250,000 for November . 5230,000 for December, and $220.000 for January Collections are expected to be 60% in the month of sale and 90% in the month following the sale The cost of goods sold is 75% of sales The company would like to maintain endling merchandise twentores equal to 65% of the next monte cost of goods sold Payment for merchandise is made is the month following the purchase Other monthly expenses to be paid in cash are $23,000 Monthly depreciation is 514100 Ignore taxes Balance sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, not of $574,100 accumulated depreciation Total assets Lisbilities and Stockholders' Equity Accounts payable Common stock Retained warnings Total liabilities and stockholders' equity $ 22,100 72,100 121,87 1.096,100 $1,212,175 $ 356,100 822, 100 $ 1,312,175 The cost of December merchandise purchases would be