Please explain how to figure out Excercise 10 04 Computing cost of goods sold (LO10 1) The following information is available for Day Company for 20X1 Cash disbursements for purchase of merchandise $ 290,000 Increase in trade accounts payable 25,000 Decrease in merchandise inventory 10,000 Required What is the cost of goods sold for 20X1

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Please explain how to figure out: Excercise 10-04 Computing cost of goods sold (LO10-1) The following information is available for Day Company for 20X1: Cash

Please explain how to figure out:

Excercise 10-04 Computing cost of goods sold (LO10-1)

The following information is available for Day Company for 20X1:


Cash disbursements for purchase of merchandise	$	290,000
Increase in trade accounts payable		25,000
Decrease in merchandise inventory		10,000

Required:

What is the cost of goods sold for 20X1?

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