Chegg Accounting Question $6$

Data table

$\backslash$table$[[$Cash sales, $30\%,$Quarter Ended,$\backslash$table$[[$Nine$-$Month$],[$Total$]]],[$March $31,\frac{\text{J}\text{u}\text{n}\text{e}30}{45,000(s)},$September $30],[$$$,30,000$$$,37,500s,112,500],[$Credit sales, $70\%,,70,000,105,000,87,500,262,500],[$Total sales,$s_{{?}_{?}},100,00h$$$,150,000S,125,000S,375,000]]$

More info

In the past, cost of goods sold has been $40\%$ of total sales. The director of marketing and the financial vice president agree that each quarter's ending inventory should not be below $$28,000$ plus $10\%$ of cost of goods sold for the following quarter. The marketing director expects sales of $$200,000$ during the fourth quarter. The January $1$ inventory was $$32,000.$

Scannell, Inc. sells tire rims. Its sales budget for the nine months ended September $30,2024,$ and additional information follow.

$($Click the icon to view the budget$)($Click the icon to view additional information.$)$

Prepare an inventory, purchases, and cost of goods sold budget for each of the first three quarters of the year. Compute cost of goods sold for the entre nine$-$month period

$\backslash$table$[[$Scannell$,$ Inc.$],[$Inventory$,$ Purchases, and Cost of Goods Sold Budget$],[$Nine Months Ended September $30,2024],[$Less: $$