A company provided the following information on sales for the coming year. Units Average selling price 1st Quarter 40,000 $5 2nd Quarter 40,000 $5 3rd Quarter 30,000 $5 4th Quarter 80,000 $6 Assuming that the beginning inventory is 3,000 units, and that the company policy is to have 25% of the next quarter's sales in ending inventory, which quarter will have the lowest production? Quarter 1 All quarters have the same production Quarter 2 O Quarter 3 Quarter 4