Current Attempt in Progress Zeller Company estimates that 2020 sales will be $42,500 in quarter 1, $53,700 in quarter 2, and $65,700 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 2020. ZELLER COMPANY Merchandise Purchases Budget Quarter 2 Six $