Question
Marigold Corporation had January 1 and December 31 balances as follows. 1/1/20 12/31/20 Inventory $112,000 $133,000 Accounts payable 55,000 64,000 For 2020, cost of goods
Marigold Corporation had January 1 and December 31 balances as follows.
1/1/20
12/31/20
Inventory $112,000 $133,000
Accounts payable 55,000 64,000
For 2020, cost of goods sold was $592,000.
Compute Marigold's 2020 cash payments to suppliers.
Cash payments to suppliers
$
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Managerial Accounting Decision Making and Performance Management
Authors: Ray Proctor
4th edition
273764489, 978-0273764489
