wart Electronics sells tablets. Its sales budget for the nine months ended September $30$ follows:

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quirement

pare 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

Stewart Electronics

Cost of Goods Sold, Inventory, and Purchases Budget

For the Nine Months Ended September $30$

$\backslash$table$[[$Quarter Ended,$\backslash$table$[[$Nine$-$Month$],[$Total$]]],[$Mar $31,$Jun $30,$Sep $30],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Data table

Stewart Electronics

Sales Budget

For the Nine Months Ended September $30$

$\backslash$table$[[,$Quarter Ended,$\backslash$table$[[$Nine$-$Month$],[$Total$]]],[,$Mar $31,$Jun $30,$Sep $30],[$Cash sales, $30\%$dots..,$39,000$$$,54,000S,46,500$$$,139,500],[$Credits sales, $70\%,91,000,126,000,108,500,325,500],[$Total sales, $100\%,130,000s,180,000$$$,155,000$$$,465,000]]$

More info

In the past, cost of goods sold has been $75\%$ of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $$20,000$ plus $10\%$ of cost of goods sold for the following quarter. The marketing director expects sales of $$250,000$ during the fourth quarter. The January $1$ inventory was $$29,750.$

$($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.$)$

More info

Stewart Electronics

Cost of Goods Sold, Inventory, and Purchases Budget

In the past, cost of goods sold has been $75\%$ of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $$20,000$ plus $10\%$ of cost of goods sold for the following quarter. The marketing director expects sales of $$250,000$ during the fourth quarter. The January $1$ inventory was $$29,750.$