Carver Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regarding the store's operations follow: - Sales are budgeted at $354,000 for November, $324,000 for December, and $304,000 for January. - Collections are expected to be 90% in the month of sale and 10% in the month following the sale. - The cost of goods sold is 70% of sales. - The company desires to have an ending merchandise inventory equal to 70% of the following month's cost of goods sold. Payment for merchandise is made in the month following the purchase. - Other monthly expenses to be paid in cash are $25,100. - Monthly depreciation is $16,800. - Ignore taxes. Multiple Choice $72,100 $47,260 $55,300 $58,700