Senegalese Specialties, a retailer of West African food products, has completed the following sales forecast for the coming year:
| January | $37,000 | July | $38,000 |
| February | 38,000 | August | 37,000 |
| March | 32,000 | September | 33,000 |
Senegalese Specialties maintains an ending inventory level of 60 percent of the following month's cost of goods sold. The company's cost of goods sold is 35 percent of sales.
Required:
| a. | Prepare Senegalese Specialties purchases budget for June and July. Omit the heading. |
Use the following format:
| × | Cost of goods sold percentage |
| = | Total inventory required |
| b. | Assuming that Senegalese Specialties pays for 50 percent of its purchases in the |
month of purchase and the remaining 50 percent in the month following the purchase, prepare the company's cash payments budget for July. Omit the heading.
The catabolism of various molecules from food.
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