Madridista Inc makes one product. July 8,500 August 9,000 September 13,900 October 11,100 Budgeted unit sales The ending finished goods inventory equals 40% of the following month's sales. The ending raw materials inventory equals 15% of the following month's raw materials production needs. Each unit of finished goods requires 8 pounds of raw materials. The raw materials cost $2.75 per pound. If 87,680 pounds of raw materials are required for production in August, then the budgeted cost of raw material purchases for July is closest to: Multiple Choice $ 149,144 $ 198,858 $ 185,345 $ 146,856