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Wolf, Inc. purchases inventory on account. It pays for half of its inventory purchases in the month of the purchases and the other half in
Wolf, Inc. purchases inventory on account. It pays for half of its inventory purchases in the month of the purchases and the other half in the month following the purchases. As of April 30, 2023, it had $12,000 of accounts payable related to April inventory purchases. Its May, 2023 purchases budget indicates $30,000 of budgeted inventory purchases. Based on this information, calculate Wolf's budgeted cash payments for inventory for May, 2023. $15,000 $21,000 O $27,000 O $18,000
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