A company's inventory balance at the end of the year was $196,100 and $209,000 at the beginning of the year. Its accounts payable balance at the end of the year was $93,000 and $88,100 at the beginning of the year, and its cost of goods sold for the year was $729,000. 

What will be the total amount of the company's cash payments for goods during the year 

Modesto Corp.'s sales budget shows that 21,200 units of Product A and 23,200 units of Product B will be sold at prices of $11.20 and $13.20, respectively. The desired ending inventory of Product A is 20% higher than its beginning inventory of 3,200 units. The beginning inventory of Product B is 3700 units. B's desired ending inventory is 4,200 units. 

What will be the budgeted purchases of Product B for the year (in units)

Answer rating: 100% (QA)

193 Cash Payment for Merchandise Cost of Goods Sold Ending Inventory ... View the full answer