Karma Comer Shoppe is a local convenience store with the following information BH (Click the icon to view the information) DAS Read the requirements Data Table . + Sales Budget For the Months of November and December November December Cash sales $ 48,300 $ 60,375 Credit sales 193,200 241,500 Total sales $ 241.500 5 301 875 Requirement 2. Prepare the cost of goods sold, Inventory, and purchases budget for November and De Karma Corner Shoppe Cost of Goods Sold, Inventory, and Purchases Budget For the Months of November and December November December Cost of goods sold Plus: Desired ending inventory Total inventory required Less: Beginning inventory Purchases October sales were $230,000 Sales are projected to go up by 5% in November from the October sales and another 25% in December (from the November sales and then return to the October level in January 20% of sales are made in cash, while the remaining 80% are paid by credit or debit cards. The credit card companies and banks (debit card issuers) charge a 15 transaction fee, and deposl the net amount (sales price less the transaction fee in the store's bank account daily Karma Comer Shoppe's gross profitis 20% of its sales revenue For the next several months, the store ways to maintain an ending merchandise inventory equal to $10,000+ 10% of the next month's cost of goods sold. The September 30 inventory was $34,400 Expected monthly operating expenses include: Wages of store workers are $9,300 per month Utilities expense of $1,500 in November and $1,600 in December Property tax expense of $2,100 per month Property and liability insurance expense of $900 per month Depreciation expense of $8,000 per month Transaction fees, as stated above, are 1% of credit and debit card sales Print Done Enter any number in the edit fields and then click Check Answer. 2 parts remaining Clear All