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.

| 4 of 4 (0 complete) Score: 0 of 1 pt E9-36A (similar to) Sweeney Electronics sells tablets. Its sales budget for the nine months ended September 30 follows: (Click the icon to view the budget) Click the icon to view additional information) 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 priod Nine Month Sep 30 Sweeney Electronics Cost of Goods Sold, Inventory, and Purchases Budget For the Nine Months Ended September 30 Quarter Ended Mar 31 Jun 30 Cost of goods sold Plus Desired ending inventory Total inventory required Les Beginning inventory Purchases (Click the icon to view additional information.) purchases b Data Table - X pnth period. (Round am Sweeney ds Sold, Inven je Nine Months Mar 3 Sweeney Electronics Sales Budget For the Nine Months Ended September 30 Quarter Nine-Month Mar 31 Jun 30 Sep 30 Total 25,000 $ 35,000 $ 30,000 $ 90,000 100,000 140,000 120,000 360,000 $ 125,000 $ 175,000 $ 150,000 $ 450,000 $ Cash sales, 20% Credits sales, 80% Total sales, 100% Print Done then click Check Answer. Clear All et for each of the first three quarters of the year. Compute cost of goods sold for the entire ni - X More Info In the past, cost of goods sold has been 60% of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $25,000 plus 20% of cost of goods sold for the following quarter. The marketing director expects sales of $245,000 during the fourth quarter. The January 1 inventory was $40,000. Print Done