Hy SMP & Sketch ezaret, Inc. sells tire rims. Its sales budget for the nine months ended September 30, 2018, and additional information follow: (Click the icon to view the budget.) A (Click the icon to view additional information.) repare an inventory, purchases, and cost of goods sold budget for each of the first three quarters of the year. Compute cost of goods sold for the entire Jezaret, Inc. Cash sales, 40% Quarter Ended Nine-Month March 31 June 30 September 30 T otal $ 40,000 $ 60,000 $ 50,000 $ 150,000 60,000 90,000 75,000 225,000 $ 100,000 $ 150,000 $ 125,000 $ 375,000 Credit sales, 60% Nine-Month Total sales Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2018 Quarter Ended Quarter Ended Quarter Ended March 31 June 30 September 30 Cost of goods sold 40000 60000 50000 Plus: Desired ending merchandise inventory 26000 25000 Total merchandise inventory required Total 150000 Print Done Less: Beginning merchandise inventory More Info Budgeted Purchases 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 $35,000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of $200,000 during the fourth quarter. The January 1 inventory was $36,000. Print Done hoose from any list or enter any number in the input fields and then continue to the next