Assume a merchandising company's estimated sales for January, February, and March are $101.000, $121,000, and $111,000, respectively. Its cost of goods sold is always 50% of its sales. The company always maintains ending merchandise inventory equal to 15% of next month's cost of goods sald. It pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% in the subsequent month. What is the accounts payable balance at the end of February? Multiple Choice $21,510 $43,680 $50.190 $44.590