Problem 19-8 Forecasting Payments (LO2) Paymore Products places orders for goods equal to 75% of...
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Finance
Problem 19-8 Forecasting Payments (LO2)
Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows:
| Quarter in Coming Year | Following Year | |||||
| First | Second | Third | Fourth | First Quarter | ||
| Sales forecast | $460 | $334 | $351 | $399 | $399 | |
Calculate Paymore's cash payments to its suppliers assuming that two-thirds of the purchases are paid for in the quarter that they are purchased and one-third are paid in the following quarter. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)
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