QUESTION 12 Not yet answered Points out of 3.00 P Flag question Hannon Retailing Company prices its products by adding 30% to its cost. Hannon anticipates sales of $715,000 in July, $728,000 in August, and $624,000 in September. Hannon's policy is to have on hand enough inventory at the end of the month to cover 25% of the next month's sales, what will be the cost of the inventory that Hannon should budget for purchase in August? $509,600 $540,000 $560,000 $680,000