Question Help Tremont, Inc. sells tire rims. Its sales budget for the nine months ended September 30, 2018, and additional information follow: EE(Click the icon to view the budget.) i (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. Tremont, Inc. More Info Inventory, Purchases, and Cost of Goods Sold Budget Nine Months Ended September 30, 2018 Quarter Ended Quarter Ended Quarter Ended Nine-Month 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 March 31 June 30 September 30 Total inventory should not be below $30,000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of $200,000 during the fourth quarter. The January 1 inventory was $20,000. Plus: Print Done Less: i Data Table Quarter Ended Nine-Month March 31 June 30 September 30 Total Cash sales, 20% S 20,000 $ 30,000 $ 25,000 $ 75,000 80,000 120,000 100,000 300,000 Credit sales, 80% $ 100,000 $ 150,000 $ 125,000 $ 375,000 Total sales Choose from any list or enter any number in the input fields and then continue to the next question. Print Done