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A business uses the direct method of reporting cash flows from operating activities. The cost of merchandise sold during the year was $84,000. Merchandise inventories
A business uses the direct method of reporting cash flows from operating activities. The cost of merchandise sold during the year was $84,000. Merchandise inventories increased by $5,800 and accounts payable decreased by $3,000 during the year. Given these facts, the cash payments for inventory during the period were: 1) 75,200 2) $92,800 3) $81,200 4) $86,800
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