. ABC Company at January 1, 2016, had beginning inventory of 5,000 coffee cups. ABC Company estimates it will sell 40,000 units during the first quarter of 2016 with a 5% increase in sales each quarter. ABC Companys policy is to maintain an ending inventory equal to 10% of the next quarters sales. Each cup costs $2 and is sold for $3. How much is budgeted sales revenue (sales budget) for the third quarter of 2016?