Executive officers of Waiton Company are wrestling with their budget for the next year. The following are two different sales estimates provided by two difference sources. Walton'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 $25,000. Next year's ending inventory is budgeted to be $26,000. Required a. Prepare an inventory purchases budget using the sales manager's estimate. b. Prepare an inventory purchases budget using the marketing consultant's estimate. Complete this question by entering your answers in the tabs below. Prepare an inventory purchases budget using the sales manager's estimate. (Round your final answers to nearest whole dollar amount.) Executive officers of Walton Company are wresting with their budget for the next yeac. The following are two different sales estimates provided by two difference sources. Walton'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 $25,000. Next year's ending invertory is budgeted to be $26,000. Required a. Prepare an imventory purchases budget using the soles manager's estimate. b. Prepare on inventory purchases budget using the marketing consultant's estimate. Complete this question by entering your answers in the tabs below. Prepare an inventory purchases budget using the marketing consultant's estimate. (Round your final answers to nearest whole dolfar amount.)