The manager of MN Company give you the following data to prepare the required purchases for the coming three months (January, February and March)
Estimated sales for January	$ 100,000
Sales increase by	5%	for the coming three months
Cost of goods sold (CGS)	60%	of sales
Beginning inventory	$12,000
Ending inventory equal to	20%	of next month CGS

Find the total purchases needed for February.

	1.	between $60,000 and $61,000
	2.	between $63,000 and $64,000
	3.	between $66,000 and $67,000
	4.	between $68,000 and $69,000