Help s Seved The executive management team of Skywalker Company is discussing their budget for the next year. They decided to break into two smaller teams to provide sales estimates for the larger group to consider the estimates provided for consideration are listed below. Second Sind Fourth Estimate Quarter Quarter Quarter Quarter Tea 1 5388,000 $301,000 $277,000 $479,000 Tes 2 527.000 156.100 405,000 650.000 02.01 Skywalker'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 la 521000. Next year's ending inventory is budgeted to be $22.000 Required a. Prepare an inventory purchases budget using the Team 1 estimate b. Prepare an inventory purchases budget using the Team 2 estimate Complete this question by entering your answers in the tabs below. equired Required Prepare an inventory purchase budget using the Team 1 estimate (round your final answers to west whole dolan amount First Quarter Second Fourth Quarter Third Quarter Quarter Sales 3880003010005 277,000 $ 470 000 $ Total inventory nooded