Remco 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 \20 of that month's projected cost of goods sold. Requirements 1. Compute the budgeted cost of goods sold for the month of June \\( 20 \\times 8 \\). 2. Compute the budgeted merchandise purchases for July \\( 20 \\times 8 \\). Requirement 1. Compute the budgeted cost of goods sold for the month of June 20X8. Begin by identifying the general formula to be used to solve for the cost of goods sold. The budgeted cost of goods sold for the month of June \\( 20 \\times 8 \\) is \\( \\$ \\) Requirement 2. Compute the budgeted merchandise purchases for July \\( 20 \\times 8 \\). Use the following table to compute the budgeted merchandise purchases for July \\( 20 \\times 8 \\). Data table Remco 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 \20 of that month's projected cost of goods sold. Requirements 1. Compute the budgeted cost of goods sold for the month of June \\( 20 \\times 8 \\). 2. Compute the budgeted merchandise purchases for July \\( 20 \\times 8 \\). Requirement 1. Compute the budgeted cost of goods sold for the month of June 20X8. Begin by identifying the general formula to be used to solve for the cost of goods sold. The budgeted cost of goods sold for the month of June \\( 20 \\times 8 \\) is \\( \\$ \\) Requirement 2. Compute the budgeted merchandise purchases for July \\( 20 \\times 8 \\). Use the following table to compute the budgeted merchandise purchases for July \\( 20 \\times 8 \\). Data table