Data Table Quarter Ended Nine-Month Total March 31 June 30 September 30 $28,000$ 38,000 $ Cash sales, 20% Credit sales, 80% Total sales 33,000 $ 132,000 165,000 $ 99,000 396,000 495,000 112,000 152,000 $140,000 $ 190,000$ Print Done Slate, Inc. sells tire rims. its sales budget for the nine months ended September 30, 2018, and Inventory, Purchases, and Cost of Goods Sold Budget Total More Info In the past, cost of goods sold has been 40% of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $5,000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of $240,000 during the fourth quarter. The January 1 inventory was $38,000. Print Done