Scannell 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 More info 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 $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 $18,750. Data table