Question Help 0 More Info Swenson, Inc. sells tire rims. Its sale E (Click the icon to view the budge Jods sold for the entire nine-mont Prepare an inventory, purchases, an period In the past, cost of goods sold has been 40% of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $10,000 plus 10% 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 $36,000 Print Done Data Table Plus: Desired ending mercha Total merchandise inventory re Less: Beginning merchandise Budgeted Purchases Cash sales, 30% Credit sales, 70% Quarter Ended Nine-Month March 31 June 30 September 30 Total $ 43,500 $ 58,500 $ 51,000 $ 153,000 101,500 136,500 119.000 357.000 $ 145,000 5 195,000 $ 170.000 $ 510,000 Total sales Print Done Swenson, Inc. sells tire rims. Its sales budget for the nine months ended September 30, 2018, 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 cost of goods sold for the entire nine month period Swenson, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2018 Quarter Ended Quarter Ended Quarter Ended March 31 June 30 September 30 58000 Nine Month Total Plus Desired ending merchandise Inventory Total merchandise inventory required Less Beginning merchandise inventory Budgeted Purchases Swenson, Inc. sells tire rims. Its sales budget for the nine months ended September 30, 2018, 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 cost of goods sold for the entire nine month period Swenson, Inc. Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2018 Quarter Ended Quarter Ended Quarter Ended March 31 June 30 September 30 58000 Nine-Month Total Beginning inventory Cost of goods sold Desired beginning inventory Purchases Total inventory required