Chu Company provided the following information related to its inventory sales and purchases for December Year 1 and the first quarter of Year 2 cost of goods sold Dec. Year 1 Jan. Year 2 Feb. Year 2 Mar. Year 2 (Actual) (Hudgeted) (Budgeted) (Budgeted) $44,000 $74,000 $94,000 $64,000 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 $85.300 $112.300 $92,800 572200