Sander Enterprises prepared the following sales budget Month Budgeted Sales March $8.000 April $13,000 May $12,000 June $14,000 The expected gross profitrate is 40% and the inventory at the end of February was $10,000 Desired Inventory levels at the end of the month are 20% of the next month's cost of goods sold What are the total purchases budgeted for May? O A 56,960 OB. $7.680 O OC. $7.440 IOD. $8.640 td