Gadgets Galore Company sells mobile phones worldwide. The company expects to sell 4,800 mobile phones for $170 each in January and 4,300 mobile phones for $200 each in February. All sales are cash only. Gadgets Galore expects cost of goods sold to average 60% of sales revenue. The company expects to sell 4,600 mobile phones in March for $290 each. Gadgets Galore's target ending inventory is $17,000 plus 60% of the next month's cost of goods sold. 1. Prepare the sales budget for January and February 2. Prepare the company's cost of goods sold, inventory, and purchases budget for January and February 1. Prepare the sales budget for January and February Gadgets Galore Company Sales Budget For the Months Ended January and February January February Unit sales (mobile phones) Multiply by: Unit selling price Total Total sales revenue 2. Prepare the company's cost of goods sold, inventory, and purchases budget for January and February. (Round your answers to the nearest dollar.) Gadgets Galore Company Inventory, Purchases, and Cost of Goods Sold Budget For the Months Ended January and February January February Cost of goods sold Plus: Desired ending inventory Total inventory required Less: Beginning inventory Purchases