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

WONERSOAimilar to) THAI NHI O Points: 0 of 3 Lana Detronion seta taties. Its sales budget for the nine months anded September 30 Click the loon to view the budget) (Click the loon to view itonal formation Requirement Prepare a cost of goods old, Inventory, and purchases budget for each of the first three quarters of the year. Computo cost of goods sold for the entro nino month period. (Mount was in the nearest Lene Electronics Cost of Goods sold, Inventory, and Purchases Budget For the Nine Months Ended September 30 Quarter Ended Mar 31 Jun 30 Sep 30 Cost of goods sold Plus: Desired ending Inventory Total Inventory required Lesst Beginning inventory Nine-Months Total Purcbases - Data table Leno Electronics Sales Budget For the Nine Months Ended September 30 Quarter Ended Nine-Month Mar 31 Jun 30 Sep 30 Total $ 50,000 $ 70,000 $ 60,000 $ 180,000 75,000 105,000 90,000 270,000 Cash sales, 40% Credits sales, 60% .... $ 125,000 $ 175,000 $ 150,000 $ 450,000 Total sales, 100% Print Done - ha More info mi ndd D In the past, cost of goods sold has been 70% of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $15,000 plus 15% of cost of goods sold for the following quarter. The marketing director expects sales of $225,000 during the fourth quarter. The January 1 inventory was $28,125. Print Done