Kelta, Inc., projects sales for its first three months of operation as follows: November $150,000 60.000 $210,000 Credit sales Cash sales Total Sales October $100,000 40.000 $140,000 December $200,000 50.000 $250,000 sold Goods are priced at 140% of their Inventory on October 1 is $40,000, this Inventory had been purchased during July. Subsequent beginning inventories should be 40% of that month's cost of goods cost 50% of purchases are paid for in the month of purchase, the balance is paid in the following month. It is expected that 50% of credit sales will be collected in the month following sale 30% in the second month following the sale, and the balance the third month. A 5% dcount is given if payment is received in the month following sal Reference Cash Budget What is the projected cost of goods sold for December? OA. $100,000 OB. $257,000 OC. $140,000 OD $178,572