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At the end of August there was $190,000 Jn Inventory. At the end of September there was $180,000 In Inventory.

by | Jan 11, 2025 | Posted Questions

At the end of August there was $190,000 Jn Inventory. At the end of September there was $180,000 In Inventory. During August, $100,000 was paid to suppliers for purchases made In August and $10,000 was pald for purchases made prior to August. September’s cost of goods sold was $420,000. The company pays for 80% of a month’s purchases In the month of the purchase and pays 20% In the month following the purchase. Required Calculate the total amount of cash disbursements for purchases made In September

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