Concord Company estimates that 2022 sales will be $44,800 in quarter 1, $53,760 in quarter 2, and $64,960 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending merchandise inventory equal to 10% of the next quarters expected cost of goods sold. Prepare a merchandise purchases budget by quarter for the first 6 months of 2022.

CONCORD COMPANY Merchandise Purchases Budget choose the accounting period For the Six Months Ending June 30, 2022For the Quarter Ending June 30, 2022June 30, 2022
	Quarter
	1		2		Six Months
select an opening merchandise purchases budget item Direct Materials PurchasesDesired Ending Merchandise InventoryBeginning Direct MaterialsBeginning Merchandise InventoryTotalRequired Merchandise PurchasesDesired Ending Finished Goods InventoryDirect Materials Per UnitBudgeted Cost of Goods Sold	$enter a dollar amount		$enter a dollar amount
select between addition and deduction AddLess: select an item Beginning Direct MaterialsRequired Merchandise PurchasesBeginning Merchandise InventoryDirect Materials Per UnitDesired Ending Finished Goods InventoryBudgeted Cost of Goods SoldTotalDirect Materials PurchasesDesired Ending Merchandise Inventory	enter a dollar amount		enter a dollar amount
select a summarizing line for the first part TotalDesired Ending Finished Goods InventoryBeginning Merchandise InventoryBeginning Direct MaterialsDesired Ending Merchandise InventoryBudgeted Cost of Goods SoldDirect Materials PurchasesRequired Merchandise PurchasesDirect Materials Per Unit	enter a total amount for the first part		enter a total amount for the first part
select between addition and deduction AddLess: select an item Budgeted Cost of Goods SoldDirect Materials PurchasesDirect Materials Per UnitRequired Merchandise PurchasesDesired Ending Merchandise InventoryBeginning Direct MaterialsTotalBeginning Merchandise InventoryDesired Ending Finished Goods Inventory	enter a dollar amount		enter a dollar amount
select a closing merchandise purchases budget item TotalDirect Materials PurchasesRequired Merchandise PurchasesDesired Ending Finished Goods InventoryDesired Ending Merchandise InventoryBudgeted Cost of Goods SoldBeginning Merchandise InventoryDirect Materials Per UnitBeginning Direct Materials	$enter a total amount for the merchandise purchases budget		$enter a total amount for the merchandise purchases budget		$enter a total amount for the merchandise purchases budget