Question 6 11 Marks In September 2021 the management of the Yancey Group assembles the following data in preparation of the budget for the months of October and November 2021. 1. Expected Sales for 2021: October $1,000,000 November 1,400,000 December 1,800,000 2. Purchases for August and September 2021 were $850,000 and $720,000 respectively. 3. Cost of Sales is expected to be 60% of sales. 4. Desired ending inventory is 25% of the next month's cost of goods sold. 5. Yancey Group pays for 60% of its purchases in the month of purchase, 30% in the following month and 10% in the second following month. Required: a) Prepare the purchase budget for October and November of 2021. b) Calculate the estimated cash payments in October and November for inventory purchased 5 marks 6 marks