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Our Feathered Friends, Inc., reported credit sales of $1,500,000 for 2022. Cost of goods sold was $700,000. The following additional information is available from the
Our Feathered Friends, Inc., reported credit sales of $1,500,000 for 2022. Cost of goods sold was $700,000. The following additional information is available from the company's records: Accounts receivable Inventory Accounts payable December 31, 2022 December 31, 2021 $50,000 75,000 30,000 How much cash was paid for inventory in 2022? $40,000 80,000 25,000
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