Chu Company provided the following information related to its inventory sales and purchases for December Year 1 and the first quarter of Year 2: Dec. Year 1 Jan. Year 2 Feb. Year 2 Mar. Year 2 (Actual) (Budgeted) (Budgeted) (Budgeted) $35,000 Cost of goods sold $65,000 $85,000 $55,000 Desired ending inventory levels are 29% of the following month's projected cost of goods sold Budgeted purchases of inventory in February Year 2 would be: Multiple Choice $63,700 $76,300. $83,800