Assume a merchandising company's estimated sales for January, February, and March are $104,000, $124.000, and $14,000, respectively. Its cost of goods sold is always 60% of its sales. The company always maintains ending merchandise inventory equal to 15% of next month's cost of goods sold, it pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% in the subsequent month. What are the cash disbursements for merchandise purchases that would appear in the company's cash budget for February? Multiple Choice $63,990 $66,990 $69,990 $68,990