Zeller Company estimates that 2020 sales will be $42,800 in quarter 1, $51,300 in quarter 2, and $5 3. Cost of goods sold is 50% of sales. Management desires to have ending finished goods inventory e the next quarter's expected cost of goods sold. Prepare a merchandise purchases budget by quarter for the first 6 months of 2020. ZELLER COMPANY Merchandise Purchases Bud Quar 1 $ $ Zeller Company estimates that 2020 sales will be $42,800 in quarter 1, $51,300 in quarter 2, and $58,300 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 2020. ZELLER COMPANY Merchandise Purchases Budget Quarter 1 2 Six Months $ $ $ $