Multiple Choice Question 106 Sheridan Company estimates its sales at 160000 units in the first quarter and that sales will increase by 10000 units each quarter over the year. They have, and desire, a 2596 ending inventory of finished goods. Each unit sells for $35.40% of the sales are for cash. 70% of the credit customers pay The remainder is received in the quarter following sale. Cash collections for the third quarter are budgeted at $3675000. $6237000. $5166000 $7410000