Show All Your Works For Your Answer: Calculate: Desir ed ending inventory in February Total inventory required in February Purchases in February Techno Company sells mobile phones worldwide. The company expects to sell 4,500 mobile phones for $165 each in January and 3,900 mobile phones for $215 each in February. All sales are cash only. Techno expects cost of goods sold to average 60% of sales revenue. The company expects to sell 4,500 mobile phones in March for $260 each. Techno's target ending inventory is $16,000 plus 40% of the next month's cost of goods sold. 2. Prepare the company's cost of goods sold inventory, and purchases budget for January and February. (Round your answers to the nearest dollar.) Techno Company Inventory, Purchases, and Cost of Goods Sold Budget For the Months Ended January and February February Cost of goods sold $ January 445,500 $ 217,240 503,100 Plus: Desired ending inventory Total inventory required 662,740 194,200 Less: Beginning inventory 217,240 468,540 Purchases