Cost of Goods Sold $302,000 Beginning Inventory 12,500 Using the direct method, calculate the amount of cash payments for purchases. Show your work Beginning Accounts Payable Ending Accounts Payable $ 12,000 11,200 Ending Inventory 16,000 Depreciation Expense 40,800 Ending Accounts Payable 10,000 Amortization of Intangible Beginning Prepaid Expenses 4,000 Assets 3,200 Ending Prepaid Expenses 5,600 Dividends Declared and Paid 8,800