Assume a merchandising company's estimated sales for January, February, and March are $$111,000,$$$131,000,$ and $$121,000,$ respectively. Its cost of goods sold is always $45\%$ of its sales. The

company always maintains ending merchandise inventory equal to $20\%$ of next month's cost of goods sold. What are the required merchandise purchases for January?

Multiple Choice

$$59,250$

$$51,750$

$$48,150$

$$58,950$