At January 1, 2016, Ceatric, Inc

Multiple Choice

At January 1, 2016, Ceatric, Inc.has beginning inventory of 10,000 boogie boards.Ceatric estimates it will sell 7,000 units during the first quarter of 2016 with a 7% increase in sales each quarter.Ceatric's policy is to maintain an ending inventory equal to 14% of the next quarter's sales.Each surfboard costs $95 and is sold for $130.How much is budgeted sales revenue for the third quarter of 2016?

A) $80,143
B) $910,000
C) $1,041,859
D) $280,500.50