Assessment 6: (Algo) Metro, Inc, sells backpacks. The Company's... LO 14-3 Metro, Inc. sells backpacks. The Company's accountant is preparing the purchases budget for the first quarter operations Metro maintains ending Inventory at 15% of the following month's expected cost of goods sold. Expected cost of goods sold for Aprilis $75.000. All purchases are made on account with 20% of accounts pold in the month of purchase and the remaining 80% pold in the month following the month of purchase March $62,500 Sales Budgeted cost of goods sold Plus: Desired ending inventory Inventory needed Less: Beginning inventory Required purchases January February $42,500 $55,000 8.250 50.750 (8.500) 542,250 Based on this information the amount of accounts payable appearing on the March pro formance sheets Saved Dah LUY 1 Required information Based on this information the amount of accounts payable appearing on the March 31 pro forma balance sheet is Multiple Choice $12.875 $51,500 $64,375 None of the answers is correct