Question
In a given quarter, a company buys inventories from suppliers in an amount equal to 34% of the following quarter's forecasted sales.Sales of the first
In a given quarter, a company buys inventories from suppliers in an amount equal to 34% of the following quarter's forecasted sales.Sales of the first quarter are projected to be $45,100.The company has a payables period of 120 days.Sales of the second quarter are projected to increase at 33.60% from the first, while sales of the third quarter are projected to increase at 13.60% from the second.Assuming a quarter of 90 days, what is total cash payment made in the third quarter for inventory purchases?
Question 21 options:
$20,668
$21,226
$21,785
$22,344
$22,902
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