Please complete Requirement 2.

Leno Corner Shoppe is a local convenience store with the f EEB (Click the icon to view the information.) Read the requirements Requirement 1. Prepare the sales budget for November and December following information Data Table Leno Corner Shoppe Sales Budget For the Months of November and December October sales were $230,000 Sales are projected to go up by 5% in November (from the October sales) and another 25% in December (from the November sales) and then return to the October level in January 20% of sales are made in cash, while the remaining 80% are paid by credit or debit cards. The credit card companies and banks (debit card issuers) charge a 1% transaction fee, and deposit the net amount (sales price less the transaction fee) in the store's bank account daily Leno Corner Shoppe's gross profit is 20% of its sales revenue November December 48,300 S 193,200 241,500 $ 60,375 241,500 301,875 Cash sales Credit sales Total sales Requirement 2. Prepare the cost of goods sold, inventory, and purchases budget Leno Corner Shoppe Cost of Goods Sold, Inventory, and Purchases Budget For the Months of November and December For the next several months, the store wants to maintain an ending merchandise inventory equal to $13,000 + 10% of the next month's cost of goods sold. The September 30 inventory was $31,400. Expected monthly operating expenses include November December Wages of store workers are $8,600 per month Utilities expense of $1,400 in November and $1,600 in December Property tax expense of $1,800 per month Property and liability insurance expense of S1,100 per month Depreciation expense of $5,500 per month Transaction fees, as stated above, are 1% of credit and debit card sales Cost of goods sold Plus: Desired ending inventory Total inventory required Less: Beginning inventory Purchases * Print Done