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 $474,000; July $511,000. 2. Cost of goods sold is expected to be 50% of sales. 3. Desired ending merchandise inventory is 30% 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 Goods available for sale tA 237000 Add : Desired beginning merchandise inventory 76650 Desired ending merchandise inventory $ Less : Desired ending merchandise inventory Budgeted merchandise purchases for June $ $