O'Hare Company is in the process of preparing a purchases budget for the first quarter of Year 2. The company has budgeted sales as follows: Dec. Year 1 Jan. Year 2 Feb. Year 2 Mar. Year 2 $64,000 $66,500 $71,000 $81,500 Cost of goods sold is expected to be 75% of sales. The company would like to have ending inventory each month equal to 25% of the following month's predicted cost of sales. The total cost of purchases in January Year 2 is: Multiple Choice O $64,000 O $83,300. O $50,719. O $66,500