Test 3 Prev Next > ts Question 10 At January 1.2016 Sheridan Company has beginning inventory of 4000 surfboards. Sheridan estimates it will sell 11000 units during the first quarter of 2016 with a 12% increase in sales each quarter. Sheridan's policy is to maintain an ending inventory equal to 25% of the next quarter's sales. Each surfboard costs $ 100 and is sold for $ 150. How much is budgeted sales revenue for the third quarter of 2016? O2212500 $562500 o $13798 $2069760 eTextbook and Media 4:21 PM