In May $2022,$ the budget committee of Lily Stores assembles the following data in preparation of budgeted merchandise purchases for the month of June.

Expected sales: June $$550,000,$ July $$660,000.$

Cost of goods sold is expected to be $75\%$ of sales.

Desired ending merchandise inventory is $30\%$ of the following $($next$)$ month's cost of goods sold.

The beginning inventory at June $1$ will be the desired amount.

$($a$)$

Compute the budgeted merchandise purchases for June.

LILY STORES

Merchandise Purchases Budget