Warehouse Corporation collects 30% of a month's sales in the month of sale, 65% in the month following sale, and 5% in the second month following sale. Budgeted sales for the upcoming four months are: The amount of cash that will be collected in July is budgeted to be: Peabody Enterprises prepared the following sales budget: The expected gross profit rate is 40% and the inventory at the end of February was $10,000. Desired inventory levels at the end of the month are 20% of the next month's cost of goods sold. What is the budgeted ending inventory for May