Exhibit 9-1 Sporting Inc. is a distributor which sells one product for $100 per unit. Sporting pays $60 to buy the product. In addition, fixed costs total $60,000 per month. Sporting wishes to maintain an inventory at the end of each month equal to 30% of the next month's projected sales. Purchases are paid in the month after purchase. Sporting makes all sales on credit and collects 40% in the month of sale and 60% in the month after sale. Budgeted monthly sales in units for the first five months of 2013 are as follows: Refer to Exhibit 9-1. What dollar amount of merchandise inventory will be purchased in April? Garibaldi Inc. collects 40% of its sales in the month of sale and the other 60% in the following month. The following shows budgeted sales for October through December October $3,900,000 November $4,350,000 December $4,725,000 What is the amount of cash receipts budgeted for November