9. Complete the following sales and inventory purchase budgets for 2018, assuming the following: Sales will increase by 25 percent over 2017 year. Cost of sales equals 75 percent of sales of expected sales in 2018. For 2018, ending inventory should equal 35 percent of the cost of sales for the next quarter. Expected Sales in the first quarter of 2019 will be $150,000. BUDGETED SALES AND INVENTORY PURCHASES FOR 2018 Quarter 1 $128,000 Quarter 2 $150,000 Quarter 3 $145,000 Quarter 4 $184,000 Total $607,000 $160,000 Sales in 2017 Expected Sales in 2018 Cost of Sales in 2018 Beginning Inventory $120,000 $34,750 2OOD Ending Inventory Purchases