Masks R Us Ltd is a distributor of a wide range of face masks. The sales department has recently completed a sales forecast of $300,000 for April and expects an increase of 8% over the previous month's sales for the months of May and June. Credit sales are consistently at 20% of sales. Cost of Goods Sold is typically 40% of sales. To make sure that there is sufficient inventory, the company wants to have a closing inventory that is 75% of the estimated cost of goods sold in the following month. Usually 30% of the credit sales are collected in the month of sales and the rest of the credit sales are collected in the following month. The credit sales for March is $54,000. Based on the above information: