Waterway, Inc, sells drum sets. Daniel Jackson, controller, is responsible for preparing the master budget. The sales manager has given Daniel the following sales forecast for the coming months. Waterway expects to have 11,000 drum sets in ending inventory on March 31. The company purchases the drum sets from its supplier for $150 each and maintains 20% of the following month's projected sales in ending inventory. Prepare Waterway's inventory purchases budget for the second quarter