Swanson Corner Shoppe Cost of Goods Sold, Inventory, and Purchases Budget For the Months of November and December Cost of goods sold Plus: Desired ending inventory Total inventory required Less: Beginning inventory Purchases Data table . . November December October sales were $270,000. Sales are projected to go up by 15% in November (from the October sales) and another 20% 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 5% transaction fee, and deposit the net amount (sales price less the transaction fee) in the store's bank account daily. Swanson Corner Shoppe's gross profit is 25% of its sales revenue. For the next several months, the store wants to maintain an ending merchandise inventory equal to $10,000+ 20% of the next month's cost of goods sold. The September 30 inventory was $50,500. Expected monthly operating expenses include: . Wages of store workers are $8,400 per month " Utilities expense of $1,600 in November and $2,200 in December Property tax expense of $2,300 per month . Property and liability insurance expense of $200 per month . . Depreciation expense of $7,500 per month Transaction fees, as stated above, are 5% of credit and debit card sales - X