Saved Old Antique Store prepared the following budget information for the month of May: . Sales are budgeted at $402,000. All sales are on account and a provision for bad debts is made for each month at three percent of sales for the mo Inventory was $100,000 on April 30; an inventory increase of $16,000 is planned for May 31. All inventory is marked to sell at cost plus 50 percent. Estimated expense for selling and administrative expenses for the month are $64,000. Depreciation for May is projected at $7,600. . Old Antique's budgeted operating income for May is: Old Antique Store prepared the following budget information for the month of May: Sales are budgeted at $303,000. All sales are on account and a provision for bad debts is made for each month at three percent of sales for the month. Inventory was $91.000 on April 30: an inventory increase of $17,000 is planned for May 31. All inventory is marked to sell at cost plus 50 percent. Estimated cash disbursements for selling and administrative expenses for the month are $55,000. Depreciation for May is projected at $6.700. . Old Antique budgeted cost of goods sold (CGS) in May is