Question 12 of 12 - 1/12 E View Policies Current Attempt in Progress In May 2022. the budget committee of Crane Stores assembles the following data in preparation of budgeted merchandise purchases for the month of June. 1. 2. Expected sales: June $400,000, July $480,000 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. 3. 4. (a) Compute the budgeted merchandise purchases for June. CRANE STORES Merchandise Purchases Budget $ e Textbook and Media Attempts: 0 of 5 used Submit Answer Sorter