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Home Q & A Board Other Fields Homework Help Business Accounting
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bernie2981 bernie2981
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8 years ago
Cave Hardware's forecasted sales for April, May, June, and July are $200,000, $230,000, $190,000, and $240,000, respectively. Sales are 65% cash and 35% credit with all accounts receivables collected in the month following the sale. Cost of goods sold is 75% of sales and ending inventory is maintained at $60,000 plus 10% of the following month's cost of goods sold. All inventory purchases are paid 22% in the month of purchase and 78% in the following month.

What are the budgeted cash payments in June to account for the inventory purchases at Cave Hardware?
A) $315,750
B) $495,000
C) $164,385
D) $167,415
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Managerial Accounting

Managerial Accounting


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nucleinuclei
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8 years ago
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bernie2981 Author
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#2
8 years ago
Answers my question perfectly.
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