At January 1, 2020, Pharoah, Inc. has beginning inventory of 5100 widgets. Pharoah estimates it will sell 37000 units during the first quarter of 2020 with a 5% increase in sales each quarter. Pharoahs policy is to maintain an ending inventory equal to 10% of the next quarters sales. Each widget costs $2 and is sold for $4. How much is budgeted sales revenue for the third quarter of 2020?

$40793

$148000

$163170

$179080