Sheridan, Inc., sells drum sets. William Brown, controller, is responsible for preparing the master budget. The sales manager has given William the following sales forecast for the coming months. Sheridan expects to have 8,500 drum sets in ending inventory on March 31. The company purchases the drum sets from its supplier for $150 each and maintains 35% of the following month's projected sales in ending inventory. Prepare Sheridan's inventory purchases budget for the second quarter. $150 each and maintains 35% of the following month's projected sales in ending inventory. Prepare Sheridan's inventory purchases budget for the second quarter. each and maintains 35% of the following month's projected sales in ending inventory. Sheridan's inventory purchases budget for the second quarter