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Using the following information, compute cash paid for inventory purchases . Write the dollar amount of your answer. (Do not write the dollar sign.) Note:
Using the following information, compute cash paid for inventory purchases. Write the dollar amount of your answer. (Do not write the dollar sign.) Note: All accounts payable relate to inventory purchases.
Sales $10,000
Cost of goods sold 5,300
Operating expenses 3,800
End of Year Beginning of Year
Prepaid operating expenses $1,000 $700
Accounts payable 1,350 1,200
Inventory 2,500 2,100
Accounts receivable 1,400 1,375
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