Flamingo, Inc. has the following budgeted figures:

	Jan	Feb	Mar	April
Sales	$50,200	$67,000	$84,000	$95,000
Cost of goods sold	60% of sales
Required ending inventory	$10,000 + 25% of next month's sales
Inventory on hand on Jan 1	$27,500

Calculate cost of goods sold for the month of February.