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Gasiorowksi Limited purchases some of its goods on credit and some for cash. On average, in any given month, the company expects 20% of its
Gasiorowksi Limited purchases some of its goods on credit and some for cash. On average, in any given month, the company expects 20% of its purchases of goods to be paid for in cash. This means, in any given month, 80% are paid with credit. Of the purchases made on credit 70% would be paid for in the next following month (1 month later), and 30% in the month after that (2 months later). Purchases of goods are budgeted as follows for a four-month period: September October November December 88281 120530 110207 100844 Required: Calculate the cash paid in December for purchases of goods. Round answer at the end to nearest pound ()
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