CFA-Level-I Exam Dumps | Jumbo, Inc. had sales of $8,000 in November, $14,000 in December, and projects sales of $10,000 in January,

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Question 166/525

Jumbo, Inc. had sales of $8,000 in November, $14,000 in December, and projects sales of $10,000 in January, $12,000 in February, and $8,000 in March. The firm's COGS in any given month is equal to
7 0% of the next month's sales. The firm collects its receivables in 60 days and pays its payables in 30 days. The firm begins January 1 with $10,000 in cash. All sales and purchases are on credit. There are no other costs or revenues. What is Jumbo's accounts payable at the end of January? Assume there are 30 days in every month.

A. $5,600

B. $9,200

C. $8,400

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II). decreas...; Question 448: The law of demand is simply a reflection of...; Question 449: The difference between economic profit and accounting profit...; Question 450: Is it possible that a project has a payback period of one ye...; Question 451: According to the code of ethics, members of CFA Institute sh...; Question 452: When individuals evaluate their portfolios they should evalu...; Question 453: Which of the following statements is not true of forward con...; Question 454: A major disadvantage of relying solely on the comparative sa...; Question 455: When a deferred tax liability reverses, it leads to...; Question 456: In accounting for a lease transaction classified as a capita...; Question 457: Lower of cost or market rule can be applied directly to:...; Question 458: What is the best way to avoid data-snooping bias?...; Question 459: Which of the following is NOT a reason for sampling the popu...; Question 460: Which of the following bonds is likely to command the HIGHES...; Question 461: A beginning amount of $75,000 is invested in a money market ...; Question 462: According to SAS 99, which of the following is least likely ...; Question 463: An analyst has gathered the following information about a co...; Question 464: Which of the following is most appropriate? 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