Jackson Inc. produces leather handbags. The production budget for the next four months is: July 5,200 units, August 7,800 units, September 7.900 units, October 8,800 units. Each handbag requires 0.7 square meters of leather Jackson Inc.'s leather inventory policy is 40% of next month's production needs. On July 1 leather inventory was expected to be 1456 square meters. Leather is expected to cost $15.00 per square meter in June, but go up to $16.00 per square meter in July. What is the expected cost of leather purchases in July? Multiple Choice O $69.888 O $70,888 $70788

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