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The following information is available for Standards Company: Accounts payable, January 1, 2026 $8,500 Inventory, January 1, 2026 $10,500 Accounts payable, December 31, 2026 $11,000

The following information is available for Standards Company: Accounts payable, January 1, 2026 $8,500 Inventory, January 1, 2026 $10,500 Accounts payable, December 31, 2026 $11,000 Inventory, December 31, 2026 $11,500 Payments to vendors during 2026 $91,000 Cost of goods sold for 2026 is

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