In September 2022, the management of Whitehorse Company assembles the following data in preparation of budgeted merchandise purchases for the months of October, November, and December. 1. Expected Sales October November $700,000 800,000 600,000 December 2. Cost of goods sold is expected to be 60% of sales. 3. Desired ending merchandise inventory is 12% of the next month's cost of goods sold. 4. The beginning inventory at October 1 will be the desired amount. Instructions Calculate the budgeted merchandise purchases for November