Wallace Company provides the following data for next year: Month Budgeted Sales January $127,000 115,000 February March 141,000 April 147,000 The gross profit rate is 30% of sales. Inventory at the end of December is $27,600 and target ending inventory levels are 30% of next month's sales, stated at cost. What is the amount of purchases budgeted for January? A. $88,900 B. $64,750 C. $113,050 D. $85,450