Bayside Distributors' sales budget for the first quarter is as follows: Month January February March Budgeted sales $120,000 $260,000 $240,000 The company's policy is to set prices to earn a 40% gross profit on sales revenue. The desired ending inventory (safety stock) is 30% of the next month's cost of goods sold. What is the dollar amount of inventory purchases that is budgeted for the month of February? Do not enter a dollar sign