Kelita, Inc., projects sales for its first three months of operation as follows. October November December Credit sales $100,000 $150,000 $200,000 60,000 50,000 Cash sales Total Sales 40,000 $140,000 $210,000 $250,000 Inventory on October 1 is $40,000; this Inventory had been purchased during July. Subsequent beginning inventories should be and the goods sold. Goods are priced at 140% of their cost. 50% of purchases are paid for in the month of purchase, the balance a pod in the expected that 50% of credit sales will be collected in the month following sale, 30% in the second month following the sale, and 5% discount is given if payment is received in the month following sale. Reference: Cash Budget What is the projected cost of goods sold for October? A $257,000 B. $220,000 C. $140,000 D. $100,000 Ill answers to save all answers. Kelita, Inc., projects sales for its first three months of operation as follows. October November December Credit sales $100,000 $150,000 $200,000 60,000 50,000 Cash sales Total Sales 40,000 $140,000 $210,000 $250,000 Inventory on October 1 is $40,000; this Inventory had been purchased during July. Subsequent beginning inventories should be and the goods sold. Goods are priced at 140% of their cost. 50% of purchases are paid for in the month of purchase, the balance a pod in the expected that 50% of credit sales will be collected in the month following sale, 30% in the second month following the sale, and 5% discount is given if payment is received in the month following sale. Reference: Cash Budget What is the projected cost of goods sold for October? A $257,000 B. $220,000 C. $140,000 D. $100,000 Ill answers to save all answers