7. Forecasts of payables (S30.2) Dynamic Futon forecasts the following purchases from suppliers: Jan. Feb. Mar. Apr.

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7. Forecasts of payables (S30.2) Dynamic Futon forecasts the following purchases from suppliers:

Jan. Feb. Mar. Apr. May Jun.

Value of goods ($ millions) 32 28 25 22 20 20 880 Part Ten Financial Planning and Working Capital Management

a. Forty percent of goods are supplied cash-on-delivery. The remainder are paid with an average delay of one month. If Dynamic Futon starts the year with payables of $22 million, what is the forecasted level of payables for each month?

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