At the beginning of 2020, Orion Company has an inventory of $500,000. Because sales growth was strong during 2019, the owner wants to increase inventory on hand to $600,000 at December 31, 2020. If net sales for 2020 are expected to be $3,000,000, and the gross profit rate is expected to be 35%, compute the cost of the merchandise the owner should expect to purchase during 2020. Select one: O a $1,950,000 O b. $3,100,000 O c. $1,150,000 d. 52,050,000