Chapter 6 Budgeting AP-4A LO 4 Joe is the beverage manager at Flash Nightclub and has been asked to prepare December's beverage purchases budget. The general manager requires Joe to maintain a 20% cost of sales for beverages and has provided him with the following information from the sales budget for November, December and January. Flash Nightclub Sales Budget (partial) For the Months of November, December and January November December $80,000 $95,000 January $75,000 Beverage Sales Based on his experience, Joe requires 25% of the following month's cost of sales to be in inventory at the end of each month. Prepare the beverage purchases budget. Flash Nightclub Purchases Budget For the Month Ending December 31, 2020