Fosnight Enterprises prepared the following sales budget Month March April May June Budgeted Sales $9,000 $12,000 $15,000 $19,000 The expected gross profit rate is 30% and the inventory at the end of February was $12,000, Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold. What are the total purchases budgeted for May? OA. $9,940 O B. $11,060 O C. $12,600 D. $10,500