Calico Company has prepared the following sales budget:

Cost of goods sold is budgeted at 60% of sales and the inventory at the end of February was $36,000. Desired inventory levels at the end of each month are 20% of the next month's cost of goods sold.

What is the desired beginning inventory on June 1?

Month March April May June Budgeted Sales $200,000 180,000 220,000 260,000