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Complete this question by entering your answers in the tabs below Required A Required B Required CRequired D Required E Required F Required G The cost of goods sold is 70 percent of sales. The company desires to maintain a minimum ending inventory equal to 20 percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $13,300. Assume that all purchases are made on account. Prepare an inventory purchases budget. October November December Inventory Purchases Budget Budgeted cost of goods sold $ 217,000$ 260,400$312,480 13,300 325,780 62,496 $ 269,080$ 270,816$263,284 lus: Desired ending inventory Inventory needed 52,080 269,080 0 62,496 322,896 52,080 ess: Beginning inventory Required purchases (on account) Required B Required D