BobCat Inc. is in the process of preparing a purchases budget for the third quarter of 2016. The company expects its cost of goods sold to be the following amount June July August September COGS 20,000 23,000 28,000 38,000 The company would like to have ending inventory each month equal to 20% of the following month's predicted cost of sales. What would be the total cost of purchases in August 2016?