Response to the following problem:
Paymore products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows: Sales Forecase for Quarter in Comming Year: First quarter is $580; Second Quarter is $540; Third Quarter is $460: Fourth Quarter is $480; Following year is $480; Calculate Paymore's cash payments to its suppliers under the assumption that the firm pays for its goods with a 1 month delay.
Therefore, on average, two-thirds of purchases are paid for in the quarter that they are purchased, and one third are paid in the following quarter (Do not round intermediate calculations)
Quarter 1 payment is $_________?
Quarter 2 is $_________?
Quarter 3 is $__________
4th quarter is $_________?