5 Sentra Sporting Company sells tennis rackets and other sporting equipment. The purchasing department manager prepared the inventory purchases budget. Sentra's policy is to maintain an ending inventory balance equal to 15% of the following month's cost of goods sold. January's budgeted cost of goods sold is $85,000. October November December 75,000 55,000 65,000 12,000 ? ? Budgeted Cost of Goods Sold Plus: Desired Ending Inventory Inventory Needed Less: Beginning Inventory Required purchases (on Account) 87,000 12,000 75,000 ? ? ? ? ? ? What would be the required purchases (on account) for December? What would be the required purchases (on account) for December? Multiple Choice $59,000 o $65,000 $68,000 O $77,600