Show Transcribed TextPurchases and Cost of Goods SNew Monthe Ended September 30, 2524Show Transcribed TextData tableQuarter EndedMarch 11Cash sales, 40%Credit sales, 60%Total salesScanna inc sestre rim ts sales budget for the nine monded September 30, 2024 and additional information follow(Chen to view the budget)Click the ken to vie additional information)Prepare an invertory purchases and cost of goods sold bodger for each of the Ind free quarters of the year Compute cost of goods sold for the entire nine-menth period-CID-and of$Data tableSdht rulery year, all of pried the pentinspephone નીMore infotheMarch 31ĆData tablete pe of gode d has beet 40% ofmakan Grancial vice president agree that each andThe ofy should not be below 36.000 u 12% of of goods sold for theTheses of $225.000 during the50,000 $75,000125,000 $CredTotal saleMarch 21105,000175.000 S175.000Quarter EndedJune 30 September 3070,000 SPintQuarter EndedJune 30 September 3070.000105,000175.00060,000 $90,000150,000 $Done90000160 000270.000Nine-MonthTotal180,000270,000450,000 Plus:Show Transcribed TextLessMore infoIn the past, cost of goods sold has been 40% of total sales. The director ofmarketing and the financial vice president agree that each quarter's endinginventory should not be below $35,000 plus 10% of cost of goods sold for thefollowing quarter. The marketing director expects sales of $225,000 during thefourth quarter. The January 1 inventory was $20,000.Less:Show Transcribed TextPrintShow Transcribed TextScannell, Inc.Inventory, Purchases, and Cost of Goods Sold BudgetNine Months Ended September 30, 2024YQuarter EndedMarch 31Scannell, Inc.Inventory, Purchases, and Cost of Goods Sold BudgetNine Months Ended September 30, 2024Quarter EndedMarch 31Beginning merchandise inventoryBudgeted PurchasesCost of goods soldDesired ending merchandise inventoryTotal merchandise inventory requiredDoneĴScannell, Inc.

Purchase budget :— This budget is prepared to estimate the value of purchases made for desired cost…

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 $35,000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of $225,000 during the fourth quarter. The January 1 inventory was $20,000. Print Done

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 $35,000 plus 10% of cost of goods sold for the following quarter. The marketing director expects sales of $225,000 during the fourth quarter. The January 1 inventory was $20,000. Print Done

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 1R: Ranger Industries has provided the following information at June 30: Other information: Average...

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