Leno Electronics sells tablets. Its sales budget for the nine months ended September 30 follows:

	March 31	June 30	September 30	Nine-Month Total
Cash Sales, 20%...	22,000	32,000	27,000	81,000
Credit Sales, 80%	88,000	128,000	108,000	324,000
Total, 100%	110,000	160,000	135,000	405,000

In the past, cost of goods sold has been 75% of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $20,000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of $210,000 during the fourth quarter. The January 1 inventory was $28,250.

Requirement

Prepare a cost of goods sold , inventory, and purchases budget for each of the first three quarters of the year. Compute cost of goods sold for the entire nine-month period. (Round amounts to the nearest whole dollar.)