Old Antique Store prepared the following budget information for the month of May:

• Sales are budgeted at $336,000. All sales are on account and a provision for bad debts is made for each month at two percent of sales for the month.
• Inventory was $85,000 on April 30; an inventory increase of $10,000 is planned for May 31.
• All inventory is marked to sell at cost plus 40 percent.
• Estimated cash disbursements for selling and administrative expenses for the month are $49,000.
• Depreciation for May is projected at $6,100.

Old Antique's budgeted cost of inventory purchases for May is: