Business, 05.05.2020 04:19 recon12759

Cave Hardware's forecasted sales for April, May, June, and July are $150,000, $250,000, $100,000, and $290,000, respectively. Sales are 60% cash and 40% credit with all accounts receivables collected in the month following the sale. Cost of goods sold is 80% of sales and ending inventory is maintained at $55,000 plus 20% of the following month's cost of goods sold. All inventory purchases are paid 26% in the month of purchase and 74% in the following month. What are the budgeted cash payments in June to account for the inventory purchases at Cave Hardware?

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Cave Hardware's forecasted sales for April, May, June, and July are $150,000, $250,000, $100,000, an...

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