Jt's cost of gods sold is 60% of sales dollars. at the end of each month, jt wants a merchandise inventory balance equal to 20% of the following month's expected cost of goods sold. what dollar amount of merchandise inventory should jt plan to purchase in august?

land, a building and equipment are acquired for a lump sum of $ 1,000,000. the market values of the land, building and equipment are $ 300,000, $ 800,000 and $ 300,000, respectively. what is the cost assigned to the equipment? (do not round any intermediary calculations, and round your final answer to the nearest dollar.)