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Cupertino Company anticipates to sell 600 kids bikes in May and 380 in June. The sales price per unit is $11. The beginning and ending
Cupertino Company anticipates to sell 600 kids bikes in May and 380 in June. The sales price per unit is $11. The beginning and ending finished goods inventories for May are 85 and 50 units. The ending finished goods inventory for June will be 70 units. It has budgeted the unit sales for the months listed below: July August September 530 490 440 60% of the company's sales are cash. Of the credit sales, 50 % is collected in the month of the sale, 39% is collected during the following month. Required: Calculate the total cash receipts for August and September. (No rounding of intermediate calculations. Round the final answers to the nearest whole dollar) August September Total Cash Receipts
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