Monument Corp April's Cost of Goods Sold Is 28,000

Monument Corp.is preparing its budget for the first quarter of 2018.The following data is provided: $$\begin{array} { | l | r | r | r | } \hline \text { Inventory, Purchases, and COGS Budget } & \text { Jan } & \text { Feb } & \text { March } \\\hline \text { Cost of goods sold (a) } & \$ 33,000 & \$ 27,000 & \$ 22,500 \\\hline \text { Desired ending inventory (b) } & 10,400 & 9,500 & ? \\\hline \text { Total inventory required } & 43,400 & 36,500 & \\\hline \text { Less: Beginning inventory } & ( 15,000) & \underline { ( 10,400 ) } & \\\hline \text { Purchases } & 28,400 & 26,100 & \\\hline \text { (a) COGS } = 75 \% \text { of sales } & & & \\\hline \text { (b) } \$ 5,000 + 20 \% \text { of COGS for next month } & & & \\\hline\end{array}$$ 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 ________.

A) $9,500
B) $10,400
C) $33,000
D) $10,600