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University 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, $2,385,000 in
University 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, $2,385,000 in November, and $2,590,000 in December. University Logos sets its prices to earn an average 40% gross profit on sales revenue. The company does not want inventory to fall below $425,000 plus 15% of the next month's cost of goods sold. Prepare a cost of goods sold, inventory, and purchases budget for the months of October and November
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