Memphis Company's May sales budget calls for sales of $870,000. The store expects to begin May with $47,000 of inventory and to end the month with $52,000 of inventory. Gross margin is typically 40% of sales. Compute the budgeted cost of merchandise purchases for May Multiple Choice 03 $517000. $527,000 O $522,000. $348,000 $353.000 1 of 25 Prev Next > ere to search hp Insert dalete 11 12 10 16 17 16 F3 15 f4 backspace & 2$ 6. 1O