Question: Need help with answers I got wrong, I don't understand what I did wrong. Weller Industrial Gas Corporation supplies acetylene and other compressed gases to






Need help with answers I got wrong, I don't understand what I did wrong.
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: - Sales are budgeted at $340,000 for November, $360,000 for December, and $350,000 for January. - Collections are expected to be 75% in the month of sale and 25% in the month following the sale. - The cost of goods sold is 80% of sales. - The company desires an ending merchandise inventory equal to 75% of the cost of goods sold in the following month. - Payment for merchandise is made in the month following the purchase. - Other monthly expenses to be paid in cash are $20,200. - Monthly depreciation is $20,000. - Ignore taxes. \begin{tabular}{|l|l|l|} \hline & November & \multicolumn{2}{|c|}{ December } \\ \hline Budgeted cost of goods sold & $272,000 & $288,000 \\ \hline Add: Desired ending merchandising inventory & 216,000 & 210,000 \\ \hline Total needs & 488,000 & 498,000 \\ \hline Less: Beginning merchandise inventory & 204,000 & 216,000 \\ \hline Required purchases & $284,000 & $282,000 \\ \hline \hline \end{tabular}
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