How do I find Beginning Inventory? I think part A is correct minus the beginning inventory

Executive officers of Perez Company are wrestling with their budget for the next year. The following are two different sales estimates provided by two difference sources: Source of Estimate Sales manager Marketing consultant First Quarter $380,000 528,000 Second Quarter $314.000 467,000 Third Quarter $278.000 416,000 Fourth Quarter $479,000 652,000 Perez'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 next quarter's expected cost of goods sold as the current quarter's ending Inventory. This year's ending inventory is $35,000. Next year's ending inventory is budgeted to be $36,000. Required a. Prepare an inventory purchases budget using the sales manager's estimate, b. Prepare an inventory purchases budget using the marketing consultant's estimate. Complete this question by entering your answers in the tabs below. Required A Required B Prepare an inventory purchases budget using the sales manager's estimate. (Round your final answers to nearest whole dollar amount.) Sales Cost of goods sold Plus: Desired ending inventory Total inventory needed Mess: Beginning inventory First Quarter Second Quarter Third Quarter $ 380,000 $ 314,000 S 278,000 $ 228,000S 188.400 $ 166,800 28,260 25,020 43,110 256,260 2 13.420 209,910 Fourth Quarter $ 479,000 $ 287,400 36,000 323,400 14 Problems Saved Perez'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 next quarter's expected cost of goods sold as the current quarter's ending inventory. This year's ending inventory is $35,000. Next year's ending inventory is budgeted to be $36,000. Required a. Prepare an inventory purchases budget using the sales manager's estimate. b. Prepare an inventory purchases budget using the marketing consultant's estimate. Complete this question by entering your answers in the tabs below. Required A Required B Prepare an inventory purchases budget using the sales manager's estimate. (Round your final answers to nearest whole dollar amount.) Sales Cost of goods sold Plus: Desired ending inventory Total inventory needed Less: Beginning inventory Required purchases First Quarter Second Quarter $ 380,000 $ 314,000 $ 228,000 $ 188,400 28,2601 25,020 256,260 213,420 Third Quarter Fourth Quarter $ 278,040 $ 479,000 $ 166,800 $ 287.400 43,1101 36,000 209,910 323,400 $ 256,260 $ 213,420 $ 209,910 S 323,400 Required Required B > Perez'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 next quarter's expected cost of goods sold as the current quarter's ending inventory. This year's ending inventory is $35,000. Next year's ending inventory is budgeted to be $36,000. Required a. Prepare an inventory purchases budget using the sales manager's estimate. b. Prepare an inventory purchases budget using the marketing consultant's estimate. Complete this question by entering your answers in the tabs below. Required A Required B Prepare an inventory purthases budget using the marketing consultant's estimate. (Round your final answers to nearest whole dollar amount.) First Quarter Second Quarter Third Quarter Fourth Quarter Sales $ 528,000 $ 467,000 $ 416,000 $ 652,000 | Total inventory needed Required purchases S O S O $ 0 $ 0