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In a given quarter, a company buys inventories from suppliers in an amount equal to 40% of the following quarter's forecasted sales. Sales of the
In a given quarter, a company buys inventories from suppliers in an amount equal to 40% of the following quarter's forecasted sales. Sales of the first quarter are projected to be $52,120. The company has a payables period of 120 days. Sales of the second quarter are projected to increase at 37.20% from the first, while sales of the third quarter are projected to increase at 17.20% from the second. Assuming a quarter of 90 days, what is total cash payment made in the third quarter for inventory purchases?
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