Question

Grenfell Company is preparing a cash budget for 2014 for purchases of Calvos. Budgeted data are as follows:
Cost of goods sold for the year 2014 .....$ 600,000
Accounts payable, 1/1/14 ........... 40,000
Inventory, 1/1/14 .............. 60,000
Desired inventory, 12/31/14 .......... 84,000
Purchases will be made in 12 equal monthly amounts and paid for in the following month. Compute the budgeted cash payment for purchases of Calvos for 2014.



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  • CreatedJune 03, 2014
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