Assume a merchandising companys estimated sales for January and February are $100,000 and $120,000, respectively. Its cost of goods sold is always 40% of its sales. The company always maintains ending merchandise inventory equal to 10% of next months cost of goods sold. The companys required merchandise purchases for February are $47,600. What must be the companys estimated sales for March?

Multiple Choice

$110,000

$140,000

$130,000

$100,000