The following are budgeted data for the WU Corporation, a merchandising company:
| Budgeted Sales (at retail) |
| January |
$300,000 |
| February |
$340,000 |
| March |
$400,000 |
| April |
$350,000 |
| Cost of goods sold as a percentage of sales |
60% |
| Desired ending inventory |
75% of next month sales |
Assuming that the WU Corporation had inventory on hand of $70,000 (at cost) on January 1, calculate the purchases needed to support January sales.