Old Antique Store prepared the following budget information for the month of May: Sales are budgeted at $371,000. All sales are on account and a provision for bad debts is made for each month at three percent of sales for the month. Inventory was $95,000 on April 30; an inventory increase of $20,000 is planned for May 31. All inventory is marked to sell at cost plus 40 percent. Estimated cash disbursements for selling and administrative expenses for the month are $59,000. Depreciation for May is projected at $7,100. Old Antique budgeted cost of goods sold (CGS) in May is