Reilly Products, a wholesaler of fishing equipment, budgeted the following sales for the indicated months: (Click the icon to view the sales budget.) All merchandise is marked up to sell at its invoice cost plus 30%. Target merchandise inventories at the beginning of each month are 25% of that month's projected cost of goods sold. Requirements 1. Compute the budgeted cost of goods sold for the month of June 208. 2. Compute the budgeted merchandise purchases for July 208. Requirement 1. Compute the budgeted cost of goods sold for the month of June 20X8. Data table Begin by identifying the general formula to be used to solve for the cost of goods sold