Staff Readers sells eReaders. Its sales budget for the nine months ended September 30 follows: In the past, cost of goods sold has been 60% of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $25,000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of $240,000 during the fourth quarter. The January 1 inventory was $32, 200. 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. (Round amounts to the nearest whole dollar.)