Question
The financial statements of Wolverines Company showed the following: Cost of Goods Sold: $725,000 Merchandise Inventory: Beg. Balance $45,000and Ending Balance$56,000 Accounts Payable: Beg. Balance
The financial statements of Wolverines Company showed the following:
Cost of Goods Sold: $725,000 Merchandise Inventory: Beg. Balance $45,000 and Ending Balance$56,000 Accounts Payable: Beg. Balance $37,000 and Ending Balance $42,000 Assuming all inventory is purchased on credit, determine the cash paid to suppliers using the direct method.
A) $731,000
C) $736,000
B) $719,000
D) $714,000
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Modern Advanced Accounting In Canada
Authors: Hilton Murray, Herauf Darrell
7th Edition
1259066487, 978-1259066481
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