Fosnight Enterprises prepared the following sales budget: Month March April May June Budgeted Sales | $3000 $10,000 $12,000 $20,000 The expected gross profit rate is 20% and the inventory at the end of February was $9000. Desired inventory levels at the end of the month are 10% of the next month's cost of goods sold. What is the budgeted cost of goods sold for May? $9600 $4000 $2400 $1200