JT Department Store expects to generate the following sales for the next three months: July August September Expected Sales $460,000 $580,000 620,000 JT's cost of goods sold is 60% of sales dollars. At the end of each month, JT wants a merchandise inventory balance equal to 20% of the following month's expected cost of goods sold. What dollar amount of merchandise inventory should JT plan to purchase in August? Do not include any dollar signs, commas, decimal places and/or spaces in your answer. Your answer should only include digits. For example, if the correct answer is 1021, you should enter 1021 as your answer. If you enter $1021 or 1,021 or 1 021 or $1021.00, your answer will be marked wrong