Burton Company sells mobile phones worldwide. The company expects to sell 4,400 mobile phones for $170 each in January and 4,000 mobile phones for $200 each in February. All sales are cash only. Burton expects cost of goods sold to average 70% of sales revenue. The company expects to sell 4,000 mobile phones in March for $270 each. Burton's target ending inventory is $17,000 plus 40% of the next month's cost of goods sold. 1. Prepare the sales budget for January and February. 2. Prepare the company's cost of goods sold, inventory, and purchases budget for January and February. For the Months Ended January and February January February Total Unit sales (mobile phones) $ 4,400 170.00 $ Multiply by: Unit selling price $ 748,000 $ 4,000 200.00 800,000 $ 1,548,000 Total sales revenue 2. Prepare the company's cost of goods sold, inventory, and purchases budget for January and February. (Round your answers to the nearest dollar.) Burton Company Inventory, Purchases, and Cost of Goods Sold Budget For the Months Ended January and February Cost of goods sold Plus: Desired ending inventory Total inventory required Less: Beginning inventory Purchases January February