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In May 2022 , the budget committee of Waterway Stores assembles the following data in preparation of budgeted merchandise purchases for the month of June.
In May 2022 , the budget committee of Waterway Stores assembles the following data in preparation of budgeted merchandise purchases for the month of June. 1. Expected sales: June $640,000, July $768,000. 2. Cost of goods sold is expected to be 75% of sales. 3. Desired ending merchandise inventory is 30% of the following (next) month's cost of goods sold. 4. The beginning inventory at June 1 will be the desired amount. Compute the budgeted merchandise purchases for June
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