The cost of goods sold for the month of June is anticipated to be

A. P2,232,000

B. P2,325,000

C. P2,356,000

D. P2,475,000

Sloan Company, a wholesaler, budgeted the following sales for the indicated months: June July August Sales on P2,790,000 P2,860,000 P2,980,000 account Cash sales 180,000 200,000 260,000 Total sales P2,970,000 P3,060,000 P3,240,000 All merchandise is marked up to sell at its invoice cost plus 20%. Merchandise inventories at the beginning of each month are at 30% of that month's projected cost of goods sold