Current Attempt in Progress In May 2022, the budget committee of Riverbed, Inc. assembles the following data in preparation of budgeted merchandise purchases for the month of June. 1. Expected sales: June $740,000, July $985,000. 2 Cost of goods sold is expected to be 80% of sales. 3. Desired ending merchandise inventory is 40% of the following month's cost of goods sold. 4. The beginning inventory at June 1 will be the desired amount. Compute the budgeted merchandise purchases for June. RIVERBED, INC. Merchandise Purchases Budget For the Month Ending June 30, 2022 Budgeted Cost of Goods Sold Add Desired Ending Merchandise Inventory Total 59230 315200 374430 Less Beginning Merchandise Inventory 0 23692 Total 350738