Assume a merchandising company's estimated sales for January, February, and March are $120,000. $140,000 and $130,000, respectively. Its cost of goods sold is always 30% of its sales. The company always maintains ending merchandise inventory equal to 30% of next month's cost of goods sold. What are the required merchandise purchases for January? Multiple Choice O $46,200 O O $37.800 $34.200 $42.000