Current Attempt in Progress In May 2020, the budget committee of Big Jim Stores assembles the following data for preparing the merchandise purchases budget for the month of June 1 2 Expected sales: June 5521.000 July $588.000 Cast of goods sold is expected to be 75% of sales, Desired ending merchandise inventory is 30% of the following month's cost of goods sok The beginning twentory at June I will be the desired amount. 3 4 Calculate the budgeted merchandise purchases for June Budgeted merchandise purchases $ e Textbook and Media -2 Question Part Score ution Part score Prepare the budgeted income statement for June through gross profitonsales. BIG JIM STORES Budgeted Income Statement For the Month Ending June 30, 2020