A company's production budget indicates the following production requirements: October, 216,000 units; November 181,000 units, and December, 116,000 units. Each unit of finished goods requires 6 pounds of raw materials that cost $2.50 per pound. The company maintains raw materials inventory equal to 20% of the next month's production requirements. The company pays for 40% of its raw material purchases in the month of purchase. The remainder is paid the next month. The companys accounts payable balance at the end of November is closest to:

Multiple Choice

• $1,717,128.

• $1,627,381.

• $1,437,720.

• $1,512,000.