In May $2025,$ the budget committee of Vaughn Stores assembles the following data in preparation of budgeted merchand purchases for the month of June.

Expected sales: June $$490,000,$ July $$588,000.$

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.

VAUGHN STORES

Merchandise Purchases Budget

b prepare budgeted multiple step income statemet for june through gross profit