Question 34 The following information pertains to the January operating budget for Casey Corporation Not yet wered Marked out of 1.00 Flag question Budgeted sales for January $202.000 and February $101.000, Collections for sales are 60% in the month of sale and 40% the next month Gross margin is 30% of sales Administrative costs are $15,000 each month Beginning accounts receivable is $29,000. Beginning inventory is $17,000. Beginning accounts payable is $65.000. (All from inventory purchases) Purchases are paid in full the following month Desired ending inventory is 25% of next month's cost of goods sold (COGS). For January, budgeted cost of goods sold is Select one: A $124,400 OB. $141.400 OC 5106,960 D. $202,000