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Pitchfork Company follows the cash basis of accounting, but converts to the accrual basis at year end. Use the following information to determine what Pitchfork
Pitchfork Company follows the cash basis of accounting, but converts to the accrual basis at year end. Use the following information to determine what Pitchfork should report for COGS on an accrual basis for the year ended December 31, 2018. December 31, 2018 December 31, 2017 Inventory Accounts Payable for Inventory Accrued Expenses $290,000 50,000 5,000 $270,000 75,000 15,000 Pitchfork paid suppliers $490,000 during 2018 $435,000 O $445,000 O $495,000 O $545,000
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