Advance Engineering makes payments on its inventory purchases as follows-30% in the month of purchase, 50% in the following month, and 20% in the second month following purchase. Budgeted inventory purchases for June, July, and August are $50 000, $43 000 and $56 000, respectively. At what amount are cash payments for inventory in August budgeted?

Question

Quizplus · Accepted Answer

The Answer of Advance Engineering makes payments on its inventory purchases as follows-30% in the month of purchase, 50% in the following month, and 20% in the second month following purchase. Budgeted inventory purchases for June, July, and August are $50 000, $43 000 and $56 000, respectively. At what amount are cash payments for inventory in August budgeted?

Advance Engineering Makes Payments on Its Inventory Purchases as Follows-30