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Question 7 (1 point) In a given quarter, a company buys inventories from suppliers in an amount equal to 23% of the following quarter's forecasted
Question 7 (1 point) In a given quarter, a company buys inventories from suppliers in an amount equal to 23% of the following quarter's forecasted sales. Sales of the first quarter are projected to be $33,380. The company has a payables period of 120 days. Sales of the second quarter are projected to increase at 27.10% from the first, while sales of the third quarter are projected to increase at 7.30% from the second. Assuming a quarter of 90 days, what is total cash payment made in the third quarter for inventory purchases? $9,210 $9,465 $9,721 $9,977 $10,233
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