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The cost of goods sold during the year was $50,512. Inventories were $12,127 and $8,098 at the beginning and end of the year, respectively. Accounts
The cost of goods sold during the year was $50,512. Inventories were $12,127 and $8,098 at the beginning and end of the year, respectively. Accounts payable (all owed to merchandise suppliers) were $5,957 and $3,629 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total a.$5,957 b.$50,512 c.$44,155 d.$48,811
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