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What are the budgeted cash payments in june to account

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Question - Cave Hardware's forecasted sales for April, May, June, and July are $180,000, $280,000, $190,000, and $260,000, 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 $30,000 plus 10% of the following month's cost of goods sold. All inventory purchases are paid 28% in the month of purchase and 72% in the following month. What are the budgeted cash payments in June to account for the inventory purchases at Cave Hardware?

Reference no: EM133185340

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