The budget committee of Ruler Office Supply has assembled the following data. As the business manager, you must prepare the budgeted income statements for May and June. (Click the icon to view the information to prepare the budget) Before completing the budgeted income statements, compute the budgeted cost of goods sold for May and June (Round your answers to the nearest whole dollar.) June Beginning inventory Purchases Ending inventory Cost of goods available for sale Cost of goods sold May 21680 Data table a Sales in April were $44,000. You forecast that monthly sales will increase 10% in May and 2% in June - X b. Ruler Office Supply maintains inventory of $12,000 plus 20% of the sales revenues budgeted for the following month. Monthly purchases average 50% of sales revenue in that same month. Actual inventory on April 30 is $21,680 Sales budgeted for July are $55.000 c. Monthly salaries amount to $5,000 Sales commissions equal 9% of sales for that month. Combine salaries and commissions into a single figure. d. Other monthly expenses are as follows Rent expense Depreciation expense Insurance expense Income tax $3.200, paid as incurred $900 $400, expiration of prepaid amount 20% of operating income