Data table a. Sales in April were $50,000. You forecast that monthly sales will increase 10% in May and an additional 4% in June. b. Clothing Goods maintains inventory of $9,000 plus 20% of the sales revenues budgeted for the following month. Monthly purchases average 50% of sales revenue in that same month. Actual inventory on April 30 is $20,000. Sales budgeted for July are $55,000. c. Monthly salaries amount to $7,000. Sales commissions equal 10% of sales for that month. Combine salaries and commissions into a single figure. d. Other monthly expenses are as follows: Rent expense Depreciation expense Insurance expense $2,200, paid as incurred $300 $100, expiration of prepaid amount 20% of operating income Income tax The budget committee of Clothing Goods, an upscale women's clothing retaler, has assembled the following ua As the business manager, you must prepare the budgeted Income talents for May and Jure Click the icon to view the Information to prepare the budget) Requirement Prepare Clothing Goods' budgeted income statements for May and June. Show cost of goods sold computation. Before completing the budgeted income statements, compute the budgeted cost of goods sold for May and Juno. (Round your answers to the nearest whole dolar) May June Cost of goods sold