Executive officers of Walton Company are wrestling with their budget for the next year. The following are two different sales estimates provided by two difference sources. Source of First Second Third Fourth Estimate Quarter Quarter Quarter Quarter Sales manager $382,000 $314,000 $272,000 $483,000 Marketing consultant 511,000 464,000 402,000 651,000 Walton's past experience indicates that cost of goods sold is about 60 percent of sales revenue. The company tries to maintain 10 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 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. Required Required A B Prepare an inventory purchases budget using the sales manager's estimate. (Round your final answers to nearest whole dollar amount.) Second First Quarter Third Fourth Quarter Quarter Quarter $ 382,000 $ 314,000 $ 272,000 $ 483,000 Sales Total inventory needed Required purchases Required Required A B Prepare an inventory purchases budget using the marketing consultant's estimate. (Round your final answers to nearest whole dollar amount.) Second First Quarter Third Quarter Fourth Quarter Quarter $ Sales $ 511,000 $464,000 $ 402,000 651,000 Total inventory needed Required purchases