Question
The total cost of goods sold was recorded as $65,900 on the income statement. The inventory account had a beginning balance of $3,000 and an
The total cost of goods sold was recorded as $65,900 on the income statement. The inventory account had a beginning balance of $3,000 and an ending balance of $4,500. How much cash was disbursed for food purchases during the year?
A. 80,000
B. 65,900
C. 67,400
D. 17,500
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Accounting Chapters 14-23
Authors: Charles T. Horngren, Walter T. Harrison Jr, M. Suzanne Oliver
8th Edition
0136073018, 978-0136073017
