Last year, Knox Corporation reported on its income statement sales of $375.000 and cost of goods sold of $140,000 During the year the balance in accounts receivable increased $30,000, the balance in accounts payable decreased $25,000, and the balance in inventory increased $10.000 The company uses the direct method to determine the net cash provided by used in operating activities on its statement of cash flows Under the direct method, cost of goods sold adjusted to a cash basis would be: Multiple Choice S105 000 $125.000 o $7.000 $155.000 Last year Knox Corporation reported on its income statement sales of $375,000 and cost of goods sold of $10.000 During the year the balance in accounts receivable increased $30,000, the balance in accounts payable decreased $25000, and the balance in inventory increased 510.000 The company uses the direct method to determine the net cash provided by used in operating activities on its statement of cash flows Under the direct method, sales adjusted to a cash basis would be MultiChoice 5295000 5345,000 5405.000 $355.000 Last year, Knox Corporation reported on its income statement sales of $375.000 and cost of goods sold of $40,000 During the year, the balance in accounts receivable increased $30,000, the balance in accounts payablo decreased $25.000, and the balance in Inventory increased $10,000. The company uses the direct method to determine the net cash provided by used in) operating activities on its statement of cash flow Under the direct method cost of goods sold adjusted to a cash basis would be Multiple Choice $105.000 $225 000 $175.000 $155.000