Gei Gai Limited has the following budgeted for the following sales for the indicated months of wholesale operations.

	June	July	August
Sales on account	1800000	1840000	1900000
Cash Sales	180000	200000	260000
Total Sales	1980000	2040000	2160000

All merchandise is marked up to sell at its invoice cost plus 20%. Merchandise inventories at the beginning of each month are at 30% of that months projected cost of goods sold.

How much is the estimated merchandise purchase for July?