Executive officers of Cowboy lce Cream Company are working on their budget for the next year. The following are two different sales estimates provided by two different sources. ClC's past experience indicates that cost of goods sold is about 60 percent of sales revenue. The company tries to maintain 15 percent of the next quarter's expected cost of goods sold as the current quarter's ending inventory. This year's ending inventory is $30,000. Next year's ending inventory is budgeted to be $31,000. Required a. Prepare an inventory purchases budget using the Frank's estimate. Complete this question by entering your answers in the tabs below