QUESTION 24 Assume a merchandising company's estimated sales for January, February, and March are $115,000, $135,000, and $125,000, respectively. Its cost of goods sold is always 45% of its sales. The company always maintains ending merchandise inventory equal to 20% of next month's cost of goods sold. What are the required merchandise purchases for January? $61.450 $49,950 $53,550 $60,750