please provide solutions for the four quarters and please show work via formulas for each section

Homework: Chapter M:5 Homework Question 6, EM5-31 (sim... Part 1 of 4 HW Score: 31.27%, 2.19 of 7 points Points: 0 of 1 Save Scannell, 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. Compute cos Data table Scannell, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2024 Quarter Ended March 31 Quarter Ended Nine-Month March 31 June 30 September 30 Total $ 30,000 $ 40,000 $ 35,000 $ 105,000 120,000 160,000 140,000 420,000 Cash sales, 20% Credit sales, 80% Total sales $ 150,000 $ 200,000 $ 175,000 $ 525,000 Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Print Budgeted Purchases Done More info In the past, cost of goods sold has been 40% of total sales. The director of markeling and the financial vice president agree that each quarter's ending inventory should not be below $8,000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of $250,000 during the fourth quarter. The January 1 inventory was $15,000. Help me solve this Etext pages Get more help Print Done ck