Crespo Company has 160,000 pounds of raw materials on hand January 1st. The company requires 840,000 pounds for production in January and desires an ending inventory of 280,000 pounds as of January 31. How many pounds of raw materials should be purchased in January?

A.) 720,000 pounds

B.) 1,120,000 pounds

C.) 560,000 pounds

D.) 960,000 pounds