Wallace Company provides the following data for next year. Month Budgeted Sales January $124,000 February 118,000 March 142.000 April 147,000 The gross profit rate is 35% of sales. Inventory at the end of December is $22,600and target ending inventory levels are 10% of next month's sales, stated at cost. What is the amount of purchases budgeted for January? $65,670 $72,930 $80,600 $88,270