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In May 2022, the budget committee of Bramble Stores assembles the following data in preparation...

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Accounting

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

  1. Expected sales: June $480,000, July $576,000.
  2. Cost of goods sold is expected to be 75% of sales.
  3. Desired ending merchandise inventory is 30% of the following (next) month's cost of goods sold.
  4. The beginning inventory at June 1 will be the desired amount.
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In May 2022, the budget committee of Bramble Stores assembles the following data in preparation of budgeted merchandise purchases for the month of June. 1. Expected sales: June $480,000, July $76,000. 2. Cost of goods sold is expected to be 754 of taths. 3. Desired ending merchandise inventony is 30% of the following (next) month's cost of goods sold. 4. The beginning imventory at June 1 will be the desired amount. BRAMBLE STORES Merchandise Purchases Budget For the Month Ending June 30, 2022 Budgeted Cost of Goods Sold Add Total Desired Ending Merchandise Inventory Beginning Merchandise Inventory Beginning Merchandise Inventory Required Merchandise Purchases $

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