Brooks Company expects to sell $8500$ units for $ $175$ each for a total of $ $1,487,500$ in January and $2$ comma $500$ units for $ $200$ each for a total of $ $500,000$ in February. The company expects cost of goods sold to average $70\%$ of sales$$ revenue, and the company expects to sell $4700$ units in March for $ $280$ each. Brooks$\text{'}$s target ending inventory is $ $20,000$ plus $50\%$ of the next$$ month's cost of goods sold. Prepare Brooks$\text{'}$s $$inventory$,$ purchases, and cost of goods sold budget for January and February. Brooks Company

Inventory, Purchases, and Cost of Goods Sold Budget

Two months Ended January $31$ and February $28$

January

February

Cost of goods sold

Plus: Desired ending merchandise inventory

Total merchandise inventory required

Less: Beginning merchandise inventory

Budgeted purchases