Budget 2 3 Data Input 4 The sales budget for the nine months ended September 30 follows 5 Quarter Ended Nine-month Total Mar-31 Jun-30 Sep-30 Cash sales 40,00052,890 43,456 136,346 8 Credit sales 97,500 56,456 76,000 $ 229,956 9 Total sales ?$137,500 [$ 109,346 [$ 119,456 | $ 366,302 10 11 In the past, the cost of goods sold has always been 12 The director of marketing, the production manager, and the vice-president agree that 13 ending inventory should not go below 35,000ps 14 of cost of goods sold for the following quarter. Expected sales are 15 during the fourth quarter. Beginning inventory was 16 60% 1 of total sales. 30% $ 120,000 47,890 17 Required 18 Prepare a budget showing purchases, cost of goods sold and inventory for the nine 19 months ended 30 September