In May $2022,$ the budget committee of Oriole Stores assembles the following data for preparing the merchandise purchases budget

for the month of June:

$1.$

$2.$

$3.$

$4.$

Expected sales: June $$470,000$; July $$601,000.$

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

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

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

Your answer is incorrect.

Calculate the budgeted merchandise purchases for June.

Budgeted merchandise purchases