Question
Use the following information about the current year's operations of a company to calculate the cash paid for merchandise. Cost of goods sold $ 700,000
Use the following information about the current year's operations of a company to calculate the cash paid for merchandise.
| Cost of goods sold | $ | 700,000 | |
| Merchandise inventory, January 1 | 105,000 | ||
| Merchandise inventory, December 31 | 137,000 | ||
| Accounts payable, January 1 | 108,000 | ||
| Accounts payable, December 31 | 80,000 | ||
Multiple Choice
$805,000. $760,000. $640,000. $728,000. $732,000.
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Auditing Fundamentals In A South African Context
Authors: Gerrit Penning, Rika Butler, Pieter Von Wielligh, Frans Prinsloo
2nd Edition
0190749040, 978-0190749040
