Answers
| April | May | June | July | ||
| Sales forecast (units) | 120 | 140 | 180 | 160 | |
| S.P | $ 4,800 | $ 4,800 | $ 4,800 | $ 4,800 | |
| Sales forecast ($) | $ 5,76,000 | $ 6,72,000 | $ 8,64,000 | $ 7,68,000 | |
| Sales forecast (units) | 120 | 140 | 180 | 160 | |
| Ending inventory | 21 | 27 | 24 | ||
| Less:Opening inventory | -20 | -21 | -27 | -24 | |
| Purchases reqd | 121 | 146 | 177 | ||
| Purchase cost per unit | $ 3,900 | $ 3,900 | $ 3,900 | ||
| Total Purchases | $ 4,71,900 | $ 5,69,400 | $ 6,90,300 | ||
| Payment for | |||||
| Current period purchases | $ 3,77,520 | $ 4,55,520 | $ 5,52,240 | ||
| Previous period purchases | 0 | $ 94,380 | $ 1,13,880 | ||
| Rent | $ 15,000 | $ 15,000 | $ 15,000 | $ 15,000 | |
| Salaries | $ 80,000 | $ 80,000 | $ 80,000 | $ 80,000 | |
| 1) | |||||
| Particulars | April | May | |||
| Opening balance of cash | $ 22,000 | $ 1,25,480 | |||
| Sales realization | $ 5,76,000 | $ 6,72,000 | |||
| Less: | |||||
| Payment to suppliers | $ 3,77,520 | $ 5,49,900 | |||
| Rent | $ 15,000 | $ 15,000 | |||
| Salaries | $ 80,000 | $ 80,000 | |||
| Closing balance | $ 1,25,480 | $ 1,52,580 | |||
| Cash in Balance sheet for May is $ 1,52,580 | |||||
| 2) | |||||
| Question itself specifies that company has zero accounts payable as for April | |||||
| 3) | |||||
| Closing inventory as at May | 27 | ||||
| Purchase cost per unit | $ 3,900 | ||||
| Closing inventory as at May | $ 1,05,300 | ||||
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