Question
Pepper Company reports a $120,000 increase in inventory and a $40,000 increase in accounts payable during the year. Cost of Goods Sold for the year
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Pepper Company reports a $120,000 increase in inventory and a $40,000 increase in accounts payable during the year. Cost of Goods Sold for the year was $1,200,000. The cash payments made to suppliers were:
A. $1,200,000
B. $1,120,000
C. $1,280,000
D. $1,040,000
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