Round Company produces hula hoops. Round Company has the following sales projections for the upcoming year. First quarter budgeted hula hoop sales in units Second quarter budgeted hula hoop sales in units Third quarter budgeted hula hoop sales in units 23,500 40,000 22,000 31,000 Fourth quarter budgeted hula hoop sales in units Round Company wants to have 20% of the next quarter's sales in units on hand at the end of each quarter. Inventory at the beginning of the year was 4,500 hula hoops. How many hula hoops should the company produce during the first quarter?