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 i (Actual) $ 48,000 Jan. Year 2 (Budgeted) $78,000 Feb. Year 2 (Budgeted) $98,000 Mar. Year 2 (Budgeted) $68,000 Cost of goods sold Desired ending inventory levels are 33% of the following month's projected cost of goods sold. Budgeted purchases of inventory in February Year 2 would be: Multiple Choice 0 O $77,900 0 $88,100 0 $95,600 0 $111.220