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Cupertino Company anticipates to sell 540 kids bikes in May and 400 in June. The sales price per unit is $12. The beginning and ending
Cupertino Company anticipates to sell 540 kids bikes in May and 400 in June. The sales price per unit is $12. The beginning and ending finished goods inventories for May are 75 and 55 units. The ending finished goods inventory for June will be 65 units. It has budgeted the unit sales for the months listed below: July August September 575 450 450 60% of the company's sales are cash. Of the credit sales, 52% is collected in the month of the sale, 40% is collected during the following month Required: Calculate the total cash receipts for August and September. (No rounding of intermediate calculations. Round the final answers to the nearest whole dollar.) August September Total Cash Receipts
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