n May 2017, the budget committee of Pina Stores assembles the following data in preparation of budgeted merchandise purchases for the month of June. 1. 2. 3. 4. Expected sales: June $503,900, July $628,000. Cost of goods sold is expected to be 75% of sales. Desired ending merchandise inventory is 30% of the following (next) month's cost of goods sold. The beginning inventory at June 1 will be the desired amount. (a) Your answer is correct. Compute the budgeted merchandise purchases for June. (Round answers to the nearest whole dollar, e.g. 5,275.) PINA STORES Merchandise Purchases Budget For the Month Ending June 30, 2017 377925 T Budgeted Cost of Goods Sold Add Desired Ending Merchandise Inventory Total 519225 Less Beginning Merchandise Inventory 3 113378 405848 Required Merchandise Purchases Click if you would like to show Work for this questioni Open Show Work (b) repare the budgeted multiple-step income statement for ju PINA STORES Budgeted Income Statement Click if you would like to Show Work for this