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In May 2 0 2 2 , the budget committee of Concord stores assembled the following data in preparation of budgeted merchandise purchases for the

In May 2022, the budget committee of Concord stores assembled the following data in preparation of budgeted merchandise purchases for the month of June. Expected sales: June $560000, July $672000. Cost of goods sold is expected to be 75% of sales. Desired ending merchandise inventory is 30% of the following (next) months cost of goods sold. The beginning inventory at June 1 will be the desired amount. Complete a budgeted merchandise purchases for
June.

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