Data for Lmypuu477, a large merchandiser, is below: Sales are budgeted at $303,000 for November, $323,000 for December, and $223,000 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. Lmypuu477 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 $22,400. . Monthly depreciation is $27,500. Ignore taxes. (ID#55822) 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 Lmypuu477? $ 33,000 83,500 181,800 918,000 $1,216,300 $ 252,000 753,000 211,300 $1,216,300 Q: What is the cost of December merchandise purchases for Lmypuu477? Multiple Choice $242,250 $133,800 $227,250 $182,250