Jackson Incorporated produces leather handbags. The production budget for the next four months is: July 5,800 units, August 7,500 units, September 7,700 units, and October 8,700 units. Each handbag requires 0.6 square meters of leather. Jackson Incorporated's ending leather inventory policy is 20% of next month's production needs. On July 1 , leather inventory was expected to be 696 square meters. Leather is expected to cost $13 per square meter in June, but go up to $14 per square meter in July. What is the expected cost of leather purchases in July? Multiple Choice $50,076 $52,576 $51,576 $52,476