. . . The following information pertains to the January operating budget for Casey Corporation Budgeted sales for January 5204,000 and February $107.000 Collections for sales are 60% in the month of sale and 40% the next month. Gross margin is 30% of sales Administrative costs are $12.000 each month Beginning accounts receivable is $26.000 Beginning inventory is $17.000 Beginning accounts payable is $70,000. (All from inventory purchases.) Purchases are paid in full the following month. Desired ending inventory is 25% of next month's cost of goods sold (COGS) For January, budgeted cash payments for purchases are . O A. $107.000 OB. $70,000 O C. $49,200 OD. $74.900