Payne Company provided the following information relevant to its inventory sales and purchases for December Year 1 and the first quarter of Year 2 Dec. Year Jan. Year 2 Feb. Year 2 Mar. Year 2 2 (Actual) (Budgeted) (Budgeted) Budgeted) $92,000 $152,000 $192,000 $132,000 42 Cost of goods sold Desired ending inventory levels are 25% of the following month's projected cost of goods sold. The company purchases all inventory on account January Year 2 budgeted purchases are $162,000 The normal schedule for inventory payments is 60% payment in month of purchase and 40% payment in month following purchase Budgeted cash payments for inventory in February Year 2 would be: Multiple Choico $171000 5100, 200