University Logos buys logo-mprinted merchandse and then sells at to university bookstores. Sales are expected to be $2,007,000 in $ eptember, $2,240,000 in October, $2,380,000 in November. and $2,540,000 in December. University Logos sets its prices to eam an average 40% gross profit on salos revenue. The compary does not want inventory to fall below $420,000 plus 20% of the next monthis cost of goods sold. Requirement 1. Prepare an inventory, purchases, and cost of goods sold budget for the months af October and November