10 Chu Company provided the following information related to its inventory sales and purchases for December Year 1 and the first quarter of Year 2 Dec. Year 1 (Actual) $41,000 Jan. Year 2 (Budgeted) $71, 600 Feb. Year 2 (Budgeted) $91,000 Mar. Year 2 (Budgeted) $61,000 00:22:04 Cost of goods sold Desired ending inventory levels are 26% of the following month's projected cost of goods sold. Budgeted purchases of inventory in February Year 2 would be: Multiple Choice O $90,700 $112.480 Multiple Choice 00:22:40 $90,700. $112.480 O $68,800 $83,200