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) $43,000 Cost of goods sold $73, 000 $93, e60 $63, 000 Desired ending inventory levels are 28% of the following month's projected cost of goods sold Budgeted purchases of inventory in February Year 2 would be: Multiple Choice $71,400. $84,600. $92,100 $112,320 Prev 32 of 50