Walton Company provides the following data for next year Month January February March April Budgeted Sales $120,000 $108,000 $140,000 $147,000 The gross profit margin is 30% of sales. Inventory at the end of December is $30,600 and target ending Inventory levels are 10% of next month's sales, stated at cost. What is the amount of purchases budgeted for February? Multiple Choice $85,400 $79,310 $77,000 O $77,840