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 (Actual) $30,000 Jan. Year 2 (Budgeted) $60,000 Feb. Year 2 (Budgeted) $80,000 Mar. Year 2 (Budgeted) $50,000 Cost of goods sold Desired ending inventory levels are 34% of the following month's projected cost of goods sold. Budgeted purchases of inventory in February Year 2 would be: O $60,200 $69,800 $77,300 $85,800