Current Attempt in Progress

In May $2022,$ the budget committee of Waterway Stores assembles the following data in preparation of budgeted merchandise purchases for the month of June.

Expected sales: June $$510,000,$ July $$612,000.$

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.

$($a$)$

Your answer is partially correct.

Compute the budgeted merchandise purchases for June.

$($B$)$

Preoare the budgeted multiple step income statement for June through gross profit