View routes Current Attempt in Progress Sarasota Company estimates that 2017 sales will be $44,600 in quarter 1, $51,200 in quarter 2, and $64,600 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending finished goods inventory equal to 18% of the next quarter's expected cost of goods sold. Prepare a merchandise purchases budget by quarter for the first 6 months of 2017 SARASOTA COMPANY Merchandise Purchases Budget Quarter Six Months