Swenson Electronics Cost of Goods Sold, Inventory, and Purchases Budget For the Nine Months Ended September 30 Data table More info In the past, cost of goods sold has been 65% of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $15,000 plus 20% of cost of goods sold for the following quarter. The marketing director expects sales of $220,000 during the fourth quarter. The January 1 inventory was $30,600