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A company's Inventory balance at 12/31/13 was $188,000 and was $200,000 at 12/31/12. Its Accounts Payable at 12/31/13 was $84,000 and was $80,000 at 12/31/12,
A company's Inventory balance at 12/31/13 was $188,000 and was $200,000 at 12/31/12. Its Accounts Payable at 12/31/13 was $84,000 and was $80,000 at 12/31/12, and its cost of goods sold for 2013 was $720,000. This implies the company's total amount of cash payments for merchandise for 2013 equal
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