The Teddy Bear Company manufactures stuffed bears. The number of bears to be produced in the upcoming three months follows: Number of teddy bears to be produced in July Number of teddy bears to be produced in August Number of teddy bears to be produced in September 12,000 10,000 14,000 Each bear requires 2 pounds of the plastic pellets used as stuffing. The company has a policy that the ending inventory of plastic pellets each month must be equal to 20% of the following month's expected production needs. How many pounds of plastic pellets does The Teddy Bear Company need to purchase in July? 1) 23,200 2) 24,000 3) 21,600 4) 20,000