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TASUTA VIHIKT CREE NOTEBOOK FOR ST EM War Foro PROBLEM 5 (10 points) The sales...

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Accounting

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TASUTA VIHIKT CREE NOTEBOOK FOR ST EM War Foro PROBLEM 5 (10 points) The sales budget of Mulls Company for the fourth quarter of 2018 is as follows October November December Sales 596,000 $72,000 $108,000 Cost of goods sold is 70% of total sales. Desired ending inventory for each month is equal to 25% of cost of goods sold for the following month. Collections on credit sales are as follows: 50% in the month of sale 30% in the month following sale 15% in the second month following sale 5% uncollectible October 1 inventory is $16,000. Expected sales for January 2007, are 584,000. Payments for inventory are 70% in the month following purchase and 30% two months following purchase Compute the cash disbursements for purchases during December

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