Chu Company provided the following information related to its inventory sales and purchases for December Year 1 and the first quarter of Year 2: December January February March Year Year 1 Year 2 Year 2 2 Cost of goods sold (Actual) (Budgeted) (Budgeted) (Budgeted) $ $ $ 120,000 80,000 140,000 180,000 Desired ending inventory levels are 25% of the following month's projected cost of goods sold. Budgeted purchases of inventory in February Year 2 would be: Multiple Choice $135,000. $165,000. $180,000. $225,000.