Jolly Company produces hula hoops. Jolly Company has the following sales projections for the upcoming year: Jolly Company wants to have 25% of the next quarter's sales in units on hand at the end of each quarter. Inventory at the beginning of the year was 5,525 hula hoops. What is the ending inventory of hula hoops at the end of the first quarter? How many hulla hoops should Jolly Company produce during the first quarter? Assuming a sales price of $5 what is the sales budget for the second quarter? Jolly Company sales on credit and it collects 60% of its sales in the months of the sale and remaining 40% the next month. How much cash does Jolly Company collects in the second quarter