Swenson 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 Prepare a cost of goods sold, inventory, and purchases budget for each of the first three quarters of the year. Compute coat of goods sold for the entire nine-month period. (Round amounts to the nearest whole dollar.) i Data Table Swenson Electronics Cost of Goods Sold, Inventory, and Purchases Budget For the Nine Months Ended September 30 Quarter Ended Mar 31 Jun 30 Sep 30 Nine-Month T otal Cost of goods sold Plus: Desired ending inventory Total inventory required Less: Beginning inventory Swenson Electronics Sales Budget For the Nine Months Ended September 30 Quarter Nine-Month Mar 31 Jun 30 Sep 30 T otal Cash sales, 40% ......S 48,000 $ 68,000 $ 58,000 S 174,000 Credits sales, 60% .... 72,000 102,000 87.000 261,000 Total sales, 100%....... S 120,000 $ 170,000 $ 145,000 S 435.000 Purchases i More Info Print Done 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 $5,000 plus 10% 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 $12.200. Enter any number in the edit Print Done All parts showing Check