Raw materials purchases are paid: 30% in the month of purchase 70% in the following month The ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory shoulc equal 10% of the following month's raw materials production needs. The estimated cost of goods sold for February is closest to: $846,000 $270,000 $738,000 $1,008,000 Bonkowski Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Credit sales are collected: 30% in the month of the sale 70% in the following month