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Chestnut Corporation has budgeted sales as follows: April: ( $ 400,000 ) May: ( $ 360,000 ) June: ( $ 440,000 ) July: ( $
Chestnut Corporation has budgeted sales as follows: April: \\( \\$ 400,000 \\) May: \\( \\$ 360,000 \\) June: \\( \\$ 440,000 \\) July: \\( \\$ 520,000 \\) Chestnut's gross margin is \\( 20 \\% \\) of sales and their desired inventory levels are \\( 40 \\% \\) of the next month's cost of goods sold. Chestnut pays for their inventory purchases during the month after purchase. How much are Chestnut's budgeted payments for inventory purchases for the month of June? A) \\( \\$ 416,000 \\) B) \\( \\$ 313,600 \\) C) \\( \\$ 288,000 \\) D) \\( \\$ 166,400 \\)
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