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 $543,000; July $588,000. 2. Cost of goods sold is expected to be 75% of sales. 3. Desired ending merchandise inventory is 30% of the following month's cost of goods sold. 4. The beginning inventory at June 1 will be the desired amount. Add : Less TAMARISK STORES Budgeted Income Statement For the Month Ending June 30, 2022