Sentra Sporting Company sells tennis rackets and other sporting equipment. The purchasing department manager prepared the inventory purchases budget. Sentra's policy is to maintain an ending inventory balance equal to 15% of the following month's cost of goods sold. January's budgeted cost of goods sold is $70,000. October November December of Goods Sold60,000 40,80e 58,ee Plus: Desired Ending Inventory6,988 66,000 9,000 Required purchases (on account) 57,00e Inventory Needed Less: Beginning Inventory What is the amount of ending inventory that the company will report on its pro forma balance sheet? Multiple Choice $395.300 $10,500 $7,500 $60,500