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Hammond's Cookie Toppings makes payments on its inventory purchases as follows: 25% in the month of purchase, 65% in the following month, and 10% in
Hammond's Cookie Toppings makes payments on its inventory purchases as follows: 25% in the month of purchase, 65% in the following month, and 10% in the second month following purchase. Budgeted inventory purchases for June, July, and August are $$14,000, $19,000 and $28,000, respectively. What is the budgeted amount of cash payments to account for inventory in August at Hammond's Cookie Toppings? A. $18,650 B. $6,100 C. $6,750 D. $20,750
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