The Merchandise Inventory account balance decreases in the period from a beginning balance of $32,000 to an
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The Merchandise Inventory account balance decreases in the period from a beginning balance of
$32,000 to an ending balance of $28,000. Cost of goods sold for the period is $168,000. If the Accounts Payable balance increases $2,400 in the period, what is the cash amount paid for merchandise inventory?
AppendixLO1
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Financial Accounting Information For Decisions
ISBN: 9780073043753
4th Edition
Authors: John J. Wild
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