7 Assume a merchandising company's estimated sales for January, February, and March are $120,000, $140,000, and $130,000, respectively. Its cost of goods sold is always 30% of its sales. The company always maintains ending merchandise inventory equal to 30% of next month's cost of goods sold. What are the required merchandise purchases for January? 4 points Multiple Choice O $46,200 O $37,800 O $34,200 O $42,000