Sunland Company estimates that 2022 sales will be $37,600 in quarter 1, $45,120 in quarter 2, and $54,520 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. SUNLAND COMPANY Merchandise Purchases Budget Quarter 2 S $