A retailing company makes a gross profit margin of 50% on sales. The budgeted sales revenue for the next period is 160,000. The company plans to decrease inventory by 20% over the financial period. Opening inventory is valued at 26,000. What are the budgeted inventory purchases for the next financial period? a. 74,800 b. 80,000 C. 85,200 O d. 154,800