Scannell, Inc. sells tire rims. Its sales budget for the nine months ended September $30,2024,$ and additional information follow:

$($Click the icon to view the budget$)$

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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 entre nine$-$month period

$\backslash$table$[[$Scannell$,$ Inc.$],[$Inventory$,$ Purchases, and Cost of Goods Sold Budget$],[$Nine Months Ended September $30,2024]]$

Data table

$\backslash$table$[[8,$Quarter Ended,$\backslash$table$[[$Nine$-$Month$],[$Total$]]],[,$arch$31,$June $30,$September $30],[$Cash sales, $30\%,$$$,43,500$$$,58,500S,51,000s,153,000],[$Credit sales, $70\%,,101,500,136,500,119,000,357,000],[$Total sales,$s,145,000s,195,000s,170,000s,510,000]]$

More info

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 $$8,000$ plus $10\%$ of cost of goods sold for the following quarter The marketing director expects sales of $$245,000$ duning the fourth quarter. The January $1$ inventory was $$17,000$