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Advance Engineering makes payments on its inventory purchases as follows30% in the month of purchase, 50% in the following month, and 20% in the second
Advance Engineering makes payments on its inventory purchases as follows30% in the month of purchase, 50% in the following month, and 20% in the second month following purchase. Budgeted inventory purchases for June, July, and August are $50,000, $43,000 and $56,000, respectively. At what amount are cash payments for inventory in August budgeted?
A) $51,900 B) $48,300 C) $40,500 D) $56,000
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