having trouble finding what the desired ending inventory should be , I'm not finding how to find the formula,

Score: 0.52 of 1 pt 2 of 4 (3 complete) HW Score: 62.96%, 2.52 of 4 pts (x E7-29 (similar to) i Question Help All sales of Tabitha's Jeans and Uniforms (TJU) are made on credit. Sales are billed twice monthly, on the fifth of the month for the last half of the prior month's sales and on the twentieth of the month for the first half of the current month's sales. For accounts paid within the first 10 days after the billing date, TJU gives customers a 3% discount; otherwise the full amount is due within 30 days of the billing date, and customers that do not pay within the 10-day discount period generally wait the full 30 days before making payment. Based on past experience, the collection experience of accounts receivable is: FB(Click the icon to view the collection experience.) BEER (Click the icon to view the sales budget.) TJU's average markup on its products is 35% of the sales price. TJU purchases merchandise for resale to meet the current month's sales demand and to maintain a desired monthly ending inventory of 20% of the next month's cost of goods sold. All purchases are on credit. TJU pays for one-half of a month's purchases in the month of purchase and the other half in the month following the purchase. All sales and purchases occur uniformly throughout the month. Read the requirements. chrono GunIng vury July collections Data Table X May sales billed June 5 $ 128,000 June sales billed June 20 134,400 June sales billed July 5 264,810 Within the 10 day discount period 65 % July sales billed July 20 308,945 At 30 days after billing 32 % Uncollectible 3% Total July collections $ 836,155 4 Requirement 2. Compute the budgeted dollar value of TJU inventory on May 31, 20X8. Print Done Cost of goods sold Required inventory % Required inventory 546,000 20 % 109,200 Requirement 3. How much merchandise should TJU plan to purchase during June 20*8? Data Table X June Merchandise Purchases Misse Cost of goods sold Missed Add: Desired ending inventory Sales for May 20X8 were $800,000. The forecast sales for the next 4 months are Total merchandise needed June Less: Beginning inventory $ 840,000 July 980,000 Missed Required purchases Missed August 900,000 Choose from any list or enter any number in the input fields and then click Check Answer. September 740,000 Missed Missed T part Contacts remaining Print Done Final Check