Check 0:00 / 9:52 1x Metro, Inc. sells backpacks. The Company's accountant is preparing the purchases budget for the first quarter operations. Metro maintains ending inventory at 20% of the following month's expected cost of goods sold. Expected cost of goods sold for April is $79,000. Sales January February March Budgeted cost of goods sold $44, 500 $59,000 $64,500 Plus: Desired ending inventory 11,800 Inventory needed 56,300 Less: Beginning inventory (8,900) Required purchases $47, 490 Based on this information the total amount of expected purchases for February is Multiple Choice