Sheridan Company estimates that $2022$ sales will be $$45,600$ in quarter $1,$$$54,720$ in quarter $2,$ and $$66,120$ 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 $2022.$

SHERIDAN COMPANY

Merchandise Purchases Budget