Old antique store prepared the following budget information for the month of May: sales or budgeted at $385,000. All sales on account and a provision for bad debt is made for each month at 3% of sales for the month. inventory was $103,000 on April 30th, and inventory increase of $17,000 is planned for May 31st. All inventory is marked to sell at cost plus 40%. estimate cash disbursements from selling an administrative expense for the month are $67,000. depreciation for May is projected at $7,900. Old antiques budgeted cost of inventory purchases for May is? Please include the formula.