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Financial & Managerial Accounting did=6301957.centerwinyes carmelita nunes 04/26/22 11:11 PM Homework: Chapter M:7 Homework Question 6, EM7-31 (similar to) Part 2 of 4 HW Score: 65.6%, 4.59 of 7 points Points: 0.29 of 1 Save M Skaff, Inc sells tire rims. Its sales budget for the nine months ended September 30, 2024, and additional information follow (Click the icon to view the budget) (Click the icon to view additional information) Prepare an inventory, purchases, and cost of goods sold budget for each of the first three quarters of the year. Computo cost of goods sold for the entire nine month period Inventory, Purchases, and cost of Goods Sold Budget Nine Months Ended September 30, 2024 Quarter Ended Quarter Ended March 31 June 30 Cost of goods sold $ 50,000 70000 Plus Desired ending merchandise Inventory 16 000 Total merchandise inventory required $ 66 000 Less: Beginning merchandise inventory 16.000 $ 50,000 Budgeted Purchases Clear all Check answer Help me solve this Etext pages Get more help bles Motor Horngren's Financial Managerial Accounting Data table - - X Quarter Ended Nine-Month March 31 Total Cash sales, 20% $ 25,000 $ 100,000 June 30 September 30 35,000 $ 30,000 $ 140,000 120.000 90,000 -360,000 Credit sales, 80% $ 125,000 $ Total sales 175,000 $ 150,000 $ 450,000 Print Done huis en september 30, 2024, and additional information follow ne as More info - X sold for 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 $9.000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of $225,000 during the fourth quarter. The January 1 inventory was $16,000 ch Print Done y