Old Antique Store prepared the following budget information for the month of May: Sales are budgeted at $375,000. 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 $98,000 on April 30; an inventory increase of $12,000 is planned for May 31. All inventory is marked to sell at cost plus 50 percent. Estimated cash disbursements for selling and administrative expenses for the month are $62,000. Depreciation for May is projected at $7,400. Old Antique's budgeted cost of inventory purchases for May is: Multiple Choice $125,000. $187,500. $229,900. $262,000. $250,000