In September 2022, the management of Blue Spruce Company assembles the following data in preparation of budgeted merchandise purchases for the months of October and November. 1. 2. Cost of goods sold is expected to be 70% of sales. 3. Desired ending merchandise inventory is 20% of the next month's cost of goods sold. 4. The beginning inventory at October 1 will be the desired amount. Compute the budgeted merchandise purchases for October and November. BLUE SPRUCECOMPANY Merchandise Purchases Budget For the Months of October and November, 2022 October November In September 2022, the management of Blue Spruce Company assembles the following data in preparation of budgeted merchandise purchases for the months of October and November. 1. 2. Cost of goods sold is expected to be 70% of sales. 3. Desired ending merchandise inventory is 20% of the next month's cost of goods sold. 4. The beginning inventory at October 1 will be the desired amount. Compute the budgeted merchandise purchases for October and November. BLUE SPRUCECOMPANY Merchandise Purchases Budget For the Months of October and November, 2022 October November