Data Table . . amber a October sales are projected to be $300,000 Sales are projected to increase by 10% in November and another 20% in December and then return to the October level in January 25% of sales are made in cash while the remaining 75% are paid by credit or debit cards. The credit card companies and banks (debit card issuers) charge a 2% transaction fee, and deposit the net amount (sales price less the transaction fee) in the store's bank account daily. The store does not accept checks. Because of the payment mechanisms, there is no risk of non-payment or bad-debts. The store's gross profit is 25% of its sales revenue. . For the next several months, the store wants to maintain an ending merchandise Inventory equal to $5,000 + 20% of the next month's cost of goods sold. All purchases for merchandise are made on account and paid in the month following the purchase. The September 30 inventory is expected to be $50,000 Expected monthly operating expenses and details about payments include the following: Wages of store workers should be $9,000 per month and are paid on the last day of each month Utilities expense is expected to be $1,200 per month in September October, and November Utilities expense is expected to be $2,000 per month during the colder months of December, January, and February All utility bills are paid the month after incurred. Property tax is $24,000 per year and is paid semiannually each December and June Property and liability insurans $120 per war and inalteamiannually each . Print Done Clear All Check An MacBook Air ad DII DD FO F7 FB F10 FM A 6 & 7 8 ( 9 ) 0 November December Cash sales $ 82,500 $ 99,000 247,500 297,000 Credit salos $ 330,000 $ 396,000 Total sales Requirement 2. Prepare the cost of goods sold, inventory, and purchases budget for November and December Dollar Discount Store Cost of Goods Sold, Inventory, and Purchases Budget For the Months of November and December November December Cost of goods sold Plus Desired ending inventory 50,000 Total Inventory required Loss Beginning inventory Purchases Enter any number in the edit fields and then click Check Answer parts remaining Clear All MacBook Air esc 30 3.0 80 FU 888 FA FS F 2 # $ 1 2 3 4 % 5 6 Q b W E R T Y A ock S D F G