In May 2022, the budget committee of Grand Stores assembles the following data in preparation of budgeted merchandise purchases for the month of June. 1. Expected sales: June $500,000, July $600,000. 2. Cost of goods sold is expected to be 75% of sates. 3. Desired ending merchandise imventory is 30% of the following (next) month's cost of goods sold. 4. The beginning inventory at June 1 will be the desired amount. (a) Compute the budgeted merchandise purchases for June. Compute the budgeted merchandise purchases for June. (b) The parts of this question must be completed in order. This part will be avallable when you complete the part above