Packer Company expects to sell 5,000 units for $150 each for a total of $750,000 in January and 2,300 units for $190 each for a total of $437,000 in February. The company expects cost of goods sold to average 50% of sales revenue, and the company expects to sell 4,700 units i and cost of goods sold budget for January and February. March for $260 each. Packer's target ending inventory is $12,000 plus 40 % of the next month's cost goods sold. Prepare Packer's inventory, purchases, Packer Company Goods Sold Budget Inventory, Purchases, and Cost Two months Ended January 31 and February 28 January February Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases