Monument Corp. is preparing its budget for the first quarter of 2018. The following data is provided: Jan $32,000 $27,000 $40,000 12,700 14,000 44,700 41,000 20,000 (12,700) 24,700 28,300 Feb March Inventory, Purchases, and COGS Budget Cost of goods sold (a) Desired ending inventory () Total inventory required Less: Beginning inventory Purchases (a) COGS 75% of sales (b) $10,000 + 10% of COGS for next month April's cost of goods sold is 28,000. The amount of Merchandise Inventory to be shown on the budgeted balance sheet at March 31 would be