Solution-How much does kingston owe klepco at the end of

How much does kingston owe klepco at the end of june

Reference no: EM131821654

Problem

Kingston company has the following budgeted inventory purchases:

Kingston pays for inventory purchases as follows:
20% in the month of purchase.
80% in the following month.

All of the inventory is purchased from Klepco.

Purchases Budget
	April	May	June	Total
Budgeted cost of goods sold	624000	792000	696000	2112000
plus desired ending inventory	79200	69600	57600	57600
Total needs	703200	861600	753600	2169600
less beginning inventory	(62400)	(79200)	(69600)	(62400)
Cost of purchases	640800	782400	684000	2107200

How much will Kingston pay (in cash) for purchases in June?

How much does Kingston owe Klepco at the end of June?

Reference no: EM131821654

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How much does kingston owe klepco at the end of june

Reference no: EM131821654

Reference no: EM131821654

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