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In May 2022, the budget committee of Tamarisk Stores assembles the following data for preparing the merchandise purchases budget for the month of June: 1.
In May 2022, the budget committee of Tamarisk Stores assembles the following data for preparing the merchandise purchases budget for the month of June: 1. expected sales: june $543000; july $588000 2. Cost of goods sold is expected to be 75% of sales 3. Desired ending merchandise inventory is 30% of the following months cost of goods sold. 4.the beginning inventory at june 1 will be the desired amount. a) calculate the budgeted merchandise purchase for june
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