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X Company, a merchandiser, prepares monthly financial statements. The following are account balances in November: November 1 November 30 Accounts Payable $59,191 $37,209 Merchandise Inventory
X Company, a merchandiser, prepares monthly financial statements. The following are account balances in November: November 1 November 30 Accounts Payable $59,191 $37,209 Merchandise Inventory $51,740 $21,190 In November, payments of Accounts Payable were $338,265, and Cost of Goods Sold was $346,833. Assuming that all merchandise purchases were on account, what were merchandise purchases in November? OA: $134,438 OB: $178,802 OC: $237,807 OD: $316,283 OE: $420,656 OF: $559,473
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