Colts Corporation Has the Following Information The Cost of Goods Sold Percentage Is 65% and the

Multiple Choice

Colts Corporation has the following information: $\begin{array}{lr}\text { Month } & \text { Budgeted Sales } \\\hline \text { May } & \$ 46,000 \\\text { June } & 50,000 \\\text { July } & 52,000 \\\text { August } & 48,000\end{array}$ The cost of goods sold percentage is 65% and the desired inventory level is 25% of next month's sales._____ is the expected total purchases budgeted for July.

A) $33,800
B) $41,600
C) $33,150
D) None of these answers is correct