Assume a merchandising companys estimated sales for January, February, and March are $113,000, $133,000, and $123,000, respectively. Its cost of goods sold is always 30% of its sales. The company always maintains ending merchandise inventory equal to 20% of next months cost of goods sold. What are the required merchandise purchases for January?

Multiple Choice

$40,610

$35,100

$32,700

$39,900