The cost of goods sold is $60$ percent of sales. The company desires to maintain a minimum ending inventory equal to $10$ percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $$13,400.$ Assume that all purchases are made on account. Prepare an inventory purchases budget.

$\backslash$table$[[,$October,November,December$],[$Inventory Purchases Budget$],[$Budgeted cost of goods sold$],[$Plus$.$ Desired ending inventory,,,$13,400],[$Inventory needed,$0,0,13,400],[$Less: Beginning inventory,$0,,],[$Required purchases $($on account$),0,0,13,400]]$