A merchandising company is working on their Inventory Purchase Budget to determine how much inventory will need to be purchased for the month of February The following information has been gathered for this budget. Prepare an Inventory Purchase Budget for the month of February and for your answer below, enter the dollar value of how much this company would expect in Inventory Purchases for this month. Round all calculations to a level that makes the most sense for this question. Budgeted Sales January: $26,366 February: $23,716 March: $32,461 Cost of Goods Sold 36% of Sales Inventory requirement End each month with 17% of the following month's budgeted Cost of Goods Sold. (This requirement is expected for both the beginning and end of February.)