The company sales projection for Jan, is $60,000, Feb. is $40,000, March $40,000 and April $40,000. The company has a standard gross margin of 40%. Actual ending inventory in December was $18,000. Going forward, the company's new policy is to start each month with 20% of cost of goods sold for the month. For example, February's beginning inventory would be 20% of February's cost of goods sold. What are the purchases for January? Multiple Choice o 323000 o 521,600 o $22.400 o