15 Data for jo, a large merchandiser, is below: Sales are budgeted at $303,000 for November, $323,000-for-December, and $223,000 for January. Collections are expected to be 70% in the month of sale and 30% in the month following the sale. The cost of goods sold is 75% of sales." Lmypuu 173 desires to have an ending merchandise inventory at the end of each month equal to 80% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $22,400. Monthly-depreciation is $27,500. Ignore taxes. Assets Cash Accounts receivable Balance Sheet October 31 Merchandise-inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assetsu Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity T Q) What is the cast of December merchandise purchases for jo Top of Form Multiple Choice +$227,250 $242,2501 $182,250% $133.800 Bottom of Fomm I $ 33,000 83,500 181,800 918,000 $ 1,216,300 S 252,000 753,000 211,300 $ 1,216,300