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owl Corporation, a merchandising company, has prepared the following sales budget: Month Sales in units May...

owl Corporation, a merchandising company, has prepared the following sales budget: Month Sales in units May 6,000 June 6,800 July 8,000 August 7,500 The average selling price of the company’s products is $100 per unit. The average purchase cost of each unit is $70. Inventory on hand on May 1 is 1,500 units. Target ending inventories are 25% of the next month’s sales. 10% purchases are paid in the month of purchase. The remaining 90% are paid in the following month

10.Purchases in June are a.$497,000 b.$440,300 c.$390,600 d.$447,300

11.Cash disbursements (relating to purchases) in June are a.$497,000 b.$440,300 c.$390,600 d.$447,300

12.Purchases in July are a.$502,425 b.$447,300 c.$551,250 d.$496,125

13.Cash disbursements (relating to purchases) in July are a.$496,125 b.$502,425 c.$447,300 d.$551,250

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