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3 it is November 1 of Year 1. Sales for Plairtrack are as follows: 1/1 September: $100,000 October: $150,000 November (forecasted): $300,000 December (forecasted): $700,000
3 it is November 1 of Year 1. Sales for Plairtrack are as follows: 1/1 September: $100,000 October: $150,000 November (forecasted): $300,000 December (forecasted): $700,000 January (forecasted): $200,000 On average, cost of goods sold is 60% of sales. During this period, Plairtrack Company expects inventory levels to remain constant. This means that inventory purchases are expected to equal the amount of cost of goods sold. Amount of credit sales: 90% Credit sales collected during month of sale: 5% Credit sales collected one month after sale: 35% Credit sales collected two months after sale: 60% What is Plairtrack's forecasted amount of total cash payments for purchases in November
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