accountant is preparing the purchases budget for the first quarter operations. Metro maintains ending inventory at 15% of the following month's expected cost of goods sold. Expected cost of goods sold for April is $84,000. March $67,000 Sales Budgeted cost of goods sold Plus: Desired ending inventory Inventory needed Less: Beginning inventory Required purchases January February $47.000 $64,000 9,600 56, 600 (9,400) 347,200 Based on this information the total amount of expected purchases for February is Top of Form Multiple Choice $47,200. $69,550. $64,450. None of the answers is correct