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Exercise 27-3 Objective: To prepare sales and production budgets Westminster Corporation begins 20X1 with a 200-unit inventory of gold bracelets and a 350-unit inventory of gold tennis bracelets. Sales for the year are projected to be 3,200 and 7,400 units, respectively. Ending inventories are predicted to be 500 units of gold bracelets and 1,000 units of gold tennis bracelets. Unit sales prices are $600 for gold bracelets and $820 for gold tennis bracelets. Directions: Prepare sales and production budgets for 20X1