In May 2022, the budget committee of Wildhorse Stores assembles the follawing data for preparing the merchandise purchases budget for the month of June: 1. Expected sake June $519,000; July $551,000. 2. Cost of goods sald is expected to be 75% of salks. 3. Desired ending merchandise inwentery is 30% of the following month's cost of goads sald. 4. The beginning irventory at June 1 will be the desired amaunt. (a) Your answer is correct. Calculate the budgeted merchandise purchases for June. Budgeted merchandise purchases $ Attempts: 1 of 3 used (b) Prepare the budgeted income statement for June through grass profit on sales