Oriole Company estimates that 2022 sales will be $41,600 in quarter 1, $49,920 in quarter 2, and $60,320 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending merchandise inventory equal to 10% of the next quarter's expected cost of goods sold. Prepare a merchandise purchases budget by quarter for the first 6 months of 2022. Budgeted Cost of Goods Sold Add Total Desired Ending Merchandise Inventory Less V: Beginning Merchandise Inventory Required Merchandise Purchases ORIOLE COMPANY Merchandise Purchases Budget For the Quarter Ending June 30, 2022 $ 1 20800 2080 22880 2080 Quarter 2 24960 2496 27456 2496 LA Six