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Answer (C) is correct . Maker’s budgeted purchases for July are calculated as follows: Projected sales at retail $600,000 Times:? cost percentage × ??? ?60% ? Projected sales at cost: $360,000 Projected sales at cost $360,000 Target percentage ×??????15% Less:? 15% of estimated sales (54,000) Following month projected sales $650,000 Cost percentage ×??????60% Following month sales at cost $390,000 Target percentage ×??????15%

Answer (A) is incorrect because The amount of $355,500 results from adding beginning inventory and subtracting ending inventory.
Answer (B) is incorrect because The amount of $360,000 is July sales at cost without adjustment for beginning and ending inventories.
Answer (D) is incorrect because The amount of $399,000 is not budgeted dollar purchases for July.