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. 1. Prepare the sales budget for January and February. Tulloch Company Sales Budget For the Months Ended January and February Unit sales (mobile phones) Multiply by: Unit selling price Total sales revenue January February Total