Tulloch Company sells mobile phones worldwide. The company expects to sell 4,400 mobile phones for $180 each in January and 4,100 mobile phones for $190 each in February. All sales are cash only. Tulloch expects cost of goods sold to average 70% of sales revenue. The company expects to sell 4,500 mobile phones in March for $280 each. Tulloch's target ending inventory is $10,000 plus 60% of the next month's cost of goods sold. Prepare the sales budget for January and February. 1. 2. Prepare the company's cost of goods sold, inventory, and purchases budget for January and February. January February Total Unit sales (mobile phones) 4,400 4,100 $ 180.00 $ 190.00 Multiply by: Unit selling price $ 792,000 $ 779,000 $ 1,571,000 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.) Cost of goods sold Tulloch Company Inventory, Purchases, and Cost of Goods Sold Budget For the Months Ended January and February January February Plus: Desired ending inventory Total inventory required Less: Beginning inventory Purchases