Mountaineer Company expects to sell 8,500 units for $175 each for a total of $1,487,500 in January and 3,200 units for $230 each for a total of $736,000 in February. The company expects cost of goods sold to average 70% of sales revenue, and the company expects to sell 4,500 units in March for $240 each. Mountaineer's target ending inventory is $18,000 plus 60% of the next month's cost of goods sold. Prepare Mountaineer's inventory, purchases, and cost of goods sold budget for January and February. CO Mountaineer Company Inventory, Purchases, and Cost of Goods Sold Budget Two months Ended January 31 and February 28 January Cost of goods sold 1,041,250 Plus: Desired ending merchandise inventory Total merchandise inventory required February 515,200 Less: Beginning merchandise inventory Budgeted purchases then click chock Anchor