JT Department Store expects to generate the following sales for the next three months

July August September Expected sales $460,000 $580,000 $620,000 JT's cost of goods sold is 60% of sales dollars. At the end of each month, JT wants a merchandise inventory balance equal to 20% of the following month's expected cost of goods sold. What dollar amount of merchandise inventory should JT plan to purchase in August? $257,400 $314.600 $352,800 $376.800 None of the above