Sweeney Electronics sells tablets. Its sales budget for the nine months ended September 30 follows: 2 (Click the icon to view the budget.) (Click the icon to view additional information.) .) Requirement 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.) X Data table Sweeney Electronics Sweeney Elect Cost of Goods Sold, Inventory, For the Nine Months End Sales Budget Q Mar 31 72000 For the Nine Months Ended September 30 Quarter Ended Nine-Month Mar 31 Jun 30 Sep 30 Total Cash sales, 40% ..... $ 48,000 $ 68,000 S 58,000 S 174,000 Credits sales, 60% , 72,000 102,000 87,000 261,000 $ 120,000 $ Total sales, 100% ..... 170,000 $ 145,000 S 435,000 % Cost of goods sold Plus: Desired ending inventory Total inventory required Less: Beginning inventory 15200 87200 12200 750001 Purchases Print Done Help me solve this Video Get more help. ( Clear all Check answer Sweeney 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 vlow additional Information.) Requirement 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.) More info Sweeney Electron Cost of Goods Sold, Inventory, and For the Nine Months Ended Quar In the past, cost of goods sold has been 50% of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $5,000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of S240,000 during the fourth quarter. The January 1 inventory was $12,200. Mar 31 72000 JI Cost of goods sold 15200 Plus: Desired ending inventory Total Inventory required 87200 Less: Beginning inventory 12200 Print Done 75000 Purchases Video Help me solve this Get more help (Clear all) Check answer Sweeney Electronics sells tablets. Its sales budget for the nine months ended September 30 follows: B (Click the icon to view the budget.) Click the icon to view additional information.) Requirement 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.) Sweeney Electronics Cost of Goods Sold, Inventory, and Purchases Budget For the Nine Months Ended September 30 Quarter Ended Jun 30 Mar 31 72000 15200 Sep 30 87000 Nine-Month Total 261000 102000 137001 Cost of goods sold Plus: Desired ending inventory Total inventory required Less: Beginning inventory Purchases 872001 1157001 122001 75000 Help me solve this Video Get more help Clear all Check
