Question - At January 1, 2006, Stuart Corporation has beginning inventory of 4,000 widgets. Stuart Corporation estimates it will sell 35,000 units during the first quarter of 2006 with a 10% increase in sales each quarter. Stuart Corporation has a policy to maintain an ending inventory equal to 25% of the next quarter's sales. Each widget costs $1 and is sold for $1.50. How much is budgeted sales revenue for the third quarter of 2006?
$42,350
$57,525
$63,525
$63,000