State Logos buys logo-imprinted merchandise and then sells it to university bookstores. Sales are expected to be $2,000,000 in September, $2,200,000 in October, $2,377,000 in November, and $2,530,000 in December. State Logos sets its prices to earn an average 40% gross profit on sales revenue. The company does not want inventory to fall below $410 000 plus 20% of the next month's of goods sold Prepare a cost of goods sold, inventory, and purchases budget for the months of October and November State Logos Cost of Goods Sold, Inventory, and Purchases Budget For the Months of October and November Plus: Desired ending Cost of goods sold inventory Total inventory required Less: Beginning inventory Purchases October November