Data for Lmypuu173, a large merchandiser, is below. Sales are budgeted at $291,000 for November, $311,000 for December, and $211,000 for January Collections are expected to be 70% in the month of sale and 30% in the month following the sale. The cost of goods sold is 75% of sales. Lmypuu173 desires to have an ending merchandise inventory at the end of each month equal to 80% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $21,200. Monthly depreciation is $21,500. Ignore taxes. (ID#92855) Assets Cash Accounts receivable Merchandise inventory Balance Sheet October 31 Property, plant and equipment, net of $624,000 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity Q) What is the cost of December merchandise purchases for Lmypuu173? $ 25,500 77,500 174,600 1,027,000 $1,304,600 $ 240,000 741,000 323,600 $1,304,600 Q) What is the cost of December merchandise purchases for Lmypuu173? Multiple Choice $173,250 $126,600 $233,250 $218,250