The executive management team of Damrin Company is discussing their budget for the next year. They decided to break into two smaller teams to provide sales estimates for the larger group to consider. The estimates provided for consideration are listed below. Tran First Quarter 5374,000 528,000 Second Quarter 5314,000 457,800 Third Quarter $274,000 409,000 Fourth Quarter $488,000 644,000 Dumin's past experience indicates that cost of goods sold is about 60 percent of sales revenue. The company tries to maintain 15 percent of the next quarter's expected cost of goods sold as the current quarter's ending inventory. This year's ending inventory is 524000, Next year's ending inventory is budgeted to be $25,000 Required a. Preowe on inventory buthases budget using the Team i estimate. b. Prepare an inventory purchases budget using the Team 2 estimate Completa Required Reguired Peat at inventory purchases budget using the Team 1 estimate. (Round your final answers to nearest whole dollar Pus Devis ending invertory , - ify Raguchas Second Fourth First Quarter Third Quarter Quarter Quarter $ 374000 5 314,000 $ 274,000 $ 488,000 $ 224.400 $ 188,400 $ 164,400 $ 292,800 28200 43.920 25,000 208,320 317,800 $ 252 600 24,000 24660 213,060 28,260 228600 $ 184800 $ 24,660 43,920 183,660 S 273,880