The executive management team of Damrin Company is discussing their budget for the next year. They decided to break into two smalle teams to provide sales estimates for the large group to consider. The estimates provided for consideration are listed below. Ten First Second Quarter Quarter $374,000 $314,000 528,000 457,600 Third Quarter $274,000 409,000 Fourth Quarter $488,080 644,900 Darin'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 sens quarter's expected cost of goods sold as the current quarter's ending inventory. This year's ending inventory is 524000. Nent year's ending inventory is budgeted to be $25,000 Required 1. Prepare an inventory purchases budget using the Team i estimate b. Piepure an inventory purchases budget using the Team 2 estimate Complete this question by Preze an inventory purchases budget using the Team 1 estimate. (Round your final answers to nearest whole dollar Sie Second Fourth First Quarter Third Quarter Quarter Quarter $ 374000 S 314000 S 274.000 $ 488,000 0 0 0 $ 0 0 $ 0 0 $ Required B 0 Prepare an inventary purchases budget using the Team 2 estimate. (Round your final answers to nearest whole dollar Suves Second Fourth First Quarter Third Quarter Quarter Quarter $ 528 000 $ 457,000 $ 409.000 $ 644,000 Wat Aravindpurchase 0 0$ 0