71) New Fashion forecasts sales of $300,000 for the quarter ended December 31 . The company's gross profit rate averages 20% of sales. Inventory as of September 30 is $100,000. If the December 31st inventory is targeted at $40,000, budgeted purchases for the quarter should be: A) $140,000. B) $160,000. C) $180,000. D) $200,000. E) $240,000