The following information pertains to the January operating budget for Casey Corporation. Budgeted sales for January $208,000 and February $108,000. Collections for sales are 50% in the month of sale and 50% the next month. - Gross margin is 25% of sales. - Administrative costs are $11,000 each month. - Beginning accounts receivable is $27,000. - Beginning inventory is $15,000. - Beginning accounts payable is $74,000. (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). At the end of January, budgeted ending inventory is $35,250$27,000$6750$20,250