In June 2020, the following data was prepared by Chuckie Chams Productions for preparing the merchandise purchases budget for the month of July: 1. Expected sales: June $644,000: July $679,000. 2. Cost of goods sold is expected to be 50% of sales. 3. Desired ending merchandise inventory is 35% of the following month's cost of goods sold 4. The beginning inventory at July 1 will be the desired amount. Calculate the budgeted merchandise purchases for June. Chuckie Chams Productions Merchandise Purchases Budget For June