Assume a merchandising companys estimated sales for October, November, and December are $166,000, $186,000, and $176,000, respectively. Its cost of goods sold is always 70% of its sales. The company always maintains ending merchandise inventory equal to 20% of next months cost of goods sold. What are the budgeted merchandise purchases for October?

Group of answer choices

$92,960

$119,000

$142,240

$116,200