Montel Company$$s July sales budget shows sales of $$650,000.$ The company budgets beginning merchandise inventory of $$50,000$ and ending merchandise inventory of $$35,000$ for July. Cost of goods sold is $20\%$ of sales. Determine the budgeted cost of merchandise purchases for July. Hint: Use the relation $($Beginning Inventory $+$ Purchases $$ Cost of Goods Sold $=$ Ending Inventory$)$ to solve for purchases.