The following are budgeted data for the Bingham Corporation, a merchandising company:
Budgeted Sales (at retail):
January $300,000
February $340,000
March $400,000
April $350,000
Cost of goods sold as a percentage of sales 60%
Desired ending inventory 75% of next month sales
Assume that all purchases are paid for in the month following the month of purchase. The cash disbursements for purchases that would appear in the April cash budget would be:
A) $240,000 B) $217,500 C) $180,000 D) $157,500
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