The expected gross profit rate is 20% and the inventory at the end of February was $9000. Desired inventory levels at the end of the month are 10% of the next months cost of goods sold. What is the budget for May.(use the data below)

Fosnight Enterprises prepared the following sales budget MonthBudgeted Sales March April May June $3,000 $10,000 $12,000 $20,000 The expected gross profit rate is 20% and the inventory at the What is the budgeted cost of goods sold for May? O A. $9,600 OB, $4,000 O C. $1,200 O D. $2.400