Question
Cold and Flu Corp. reported the following information for 2018 and 2019. Inventory is not reported as there was no change in inventory from 30
Cold and Flu Corp. reported the following information for 2018 and 2019. Inventory is not reported as there was no change in inventory from 30 June 2018 to 30 June 2019.
Accounts payable, 30 June 2018
$95 000
Accounts payable, 30 June 2019
50 000
Cost of goods sold in 2018/19 financial year
560 000
How much cash was paid for inventory during the 2018/19 financial year?
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins
4th Edition
0073527092, 978-0073527093
