Gadgets Galore Company sells mobile phones woridwide. The company expects to sel 4,600 mobile phones for $165 each in January and 4,300 mobile phones for $205 each in February. All sales are cash only. Gadgets Galore expects cost of goods sold to average 50% of sales revenue. The company expects to sell 4,500 mobile phones in March for $240 each. Gadgets Galore's target ending inventory is $13,000 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. 2. Prepare the company's cost of goods sold, inventory, and purchases budget for January and February. (Round your answers to the nearest dollar:)