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Stewart Electronics sells tablets. Its sales budget for the nine months ended September 30 follows: BE: (Click the icon to view the budget.) i (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.) 0 Data Table Stewart Electronics Cost of Goods Sold, Inventory, and Purchases Budget For the Nine Months Ended September 30 Quarter Ended Mar 31 Jun 30 Sep 30 Quarter Nine-Month Total Cash sales, 30%. ...... $ Mar 31 36,000 $ 84,000 120,000 $ Nine-Month Sep 30 Total 43,500 $ 130,500 101,500 304,500 Cost of goods sold Plus: Desired ending inventory Total inventory required Jun 30 51,000 $ 119,000 170,000 $ Credits. sales, 70% ..... Tatal sales, 100% ...... $ 145,000 $ 435,000 Less: Beginning inventory More Info Print Done Purchases In the past, cost of goods sold has been 70% 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 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 $36,800. Enter any number in the edit fields and then click Check Answer Print Done All parts showing Check