Turlough Wholesalers is preparing its merchandise purchases budget. Budgeted sales are $300,000 for June and $380,000 for July. Cost of goods sold is expected to be 60% of sales. The company’s desired...

Turlough Wholesalers is preparing its merchandise purchases budget. Budgeted sales are

$300,000 for June and $380,000 for July. Cost of goods sold is expected to be 60% of sales. The

company’s desired ending inventory is 25% of the following month’s cost of goods sold. Compute

the required purchases for June.