2018 e's Pet Shop has estimated sales for the April 1st to June 30th period Total sales for April 60,000 st Total sales for Mav Total sales for June from the estimated sales, Pete's Pet Shop estimates the percentagesfor cash and credit sales.M) Estimated cash sales % for the period 60% Estimated credit sales % for the period [ 40%] From these estimates, Pete's Pet Shop prepares the following sales budget Pete's Pet Shop Sales Budget For the period ended Apr. 1 to June 30 Cash sales, 60% 36,000 48,00042,000 126,000 Credit sales, 40% _36000 28,0001-84,000 Total sales, 100% 60,000 80,000 700 70,000 210,000 Once budgeted sales are known, then cost of goods sold, ending inventory, and purchases can be determin The following equations explain the relationship between the inventory related items: Beginning inventory+ Purchases- Ending inventory Cost of goods sold Purchases Cost of goods sold+ Ending inventory-Beginning inventory 70%) of sales. The cost of goods sold percentage is estimated at: Pete's Pet Shop provides the following information: March 31 (beginning) inventory is: eJune 30 (ending) target inventory is: 53,600 53,600 $ plus 80% of cost of goods sold for the next m 20,000 Target inventory at the end of each month- 2018 e's Pet Shop has estimated sales for the April 1st to June 30th period Total sales for April 60,000 st Total sales for Mav Total sales for June from the estimated sales, Pete's Pet Shop estimates the percentagesfor cash and credit sales.M) Estimated cash sales % for the period 60% Estimated credit sales % for the period [ 40%] From these estimates, Pete's Pet Shop prepares the following sales budget Pete's Pet Shop Sales Budget For the period ended Apr. 1 to June 30 Cash sales, 60% 36,000 48,00042,000 126,000 Credit sales, 40% _36000 28,0001-84,000 Total sales, 100% 60,000 80,000 700 70,000 210,000 Once budgeted sales are known, then cost of goods sold, ending inventory, and purchases can be determin The following equations explain the relationship between the inventory related items: Beginning inventory+ Purchases- Ending inventory Cost of goods sold Purchases Cost of goods sold+ Ending inventory-Beginning inventory 70%) of sales. The cost of goods sold percentage is estimated at: Pete's Pet Shop provides the following information: March 31 (beginning) inventory is: eJune 30 (ending) target inventory is: 53,600 53,600 $ plus 80% of cost of goods sold for the next m 20,000 Target inventory at the end of each month