Bramble corporation is a small wholesaler of gourmet food products. data regarding the store's operations follow: sales are budgeted at $280,000 for november, $260,000 for december, and $250,000 for january. collections are expected to be 45% in the month of sale and 55% in the month following the sale. the cost of goods sold is 80% of sales. the company would like to maintain ending merchandise inventories equal to 70% 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 $23,400. monthly depreciation is $14,400. ignore taxes. balance sheet october 31 assets cash $ 21,800 accounts receivable 71,800 merchandise inventory 156,800 property, plant and equipment, net of $573,800 accumulated depreciation 1,095,800 total assets $ 1,346,200 liabilities and stockholders' equity accounts payable $ 255,800 common stock 821,800 retained earnings 268,600 total liabilities and stockholders' equity $ 1,346,200 the cost of december merchandise purchases would be: