Question 25 3.53 pts Chu Company provided the following information related to its inventory sales and purchases for December Year 1 and the first quarter of Year 2: Dec. Year 1 Jan. Year 2 Feb. Year 2 Mar. Year 2 (Actual) (Budgeted) (Budgeted) (Budgeted) Cost of goods sold $32,000 $62,000 $82,000 $52,000 Desired ending inventory levels are 32% of the following month's projected cost of goods sold. Budgeted purchases of inventory in February Year 2 would be: O $72,400 $79,900 O $61,600 $91,120