Assume a merchandising company's estimated sales for January, February, and March are $120,000,$140,000, and $130,000, respectlvely. 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 $46,200 $37,800 $34,200 $42,000