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3. (10 pts) Taurus Company has the following data: Month January February March April Budgeted Sales $108,000 132,000 144,000 120,000 The gross profit rate is

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3. (10 pts) Taurus Company has the following data: Month January February March April Budgeted Sales $108,000 132,000 144,000 120,000 The gross profit rate is 40% of sales and ending inventory at December 31 was $19,440 Desired ending inventory levels are 30% of next month's sales at cost. What are the expected total purchases for February

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