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Use the following information about the current year's operations of a company to calculate the cash paid for merchandise. Cost of goods sold $ 238,000
Use the following information about the current year's operations of a company to calculate the cash paid for merchandise.
| Cost of goods sold | $ | 238,000 |
| Merchandise inventory, January 1 | 66,800 | |
| Merchandise inventory, December 31 | 68,200 | |
| Accounts payable, January 1 | 65,200 | |
| Accounts payable, December 31 | 71,800 | |
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Accounting
Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie
11th Edition
9780730382737, 9780730382737
