Question 10 2020, the following data was prepared by Chuckie Chams Productions for preparing the merchandise purchases budget for the month of July: 1. Expected sales: June $548,000; Juty $592,000. 2. Cost of goods sold is expected to be SS% of sales. Desired ending merchandise inventory is 35% of the following month's cost of goods sold. The beginning inventory at July 1 will be the desired amount. 4. Calculate the budgeted merchandise purchases for June. Chuckle Chams Productions Merchandise Purchases Budget For June Desired ending merchandise inventory Goods avalilable for sale Budgeted merchandise purchases for June Desired beginning merchandise inventory Budgeted cost of goods sold LINK TO TEXT