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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 $58,149 $41,296 Merchandise Inventory
X Company, a merchandiser, prepares monthly financial statements. The following are account balances in November: November 1 November 30 Accounts Payable $58,149 $41,296 Merchandise Inventory $53,894 $29,828 In November, payments of Accounts Payable were $327,415, and Cost of Goods Sold was $334,628. Assuming that all merchandise purchases were on account, what were merchandise purchases in November? OA: $48,452 B: $70,255 C: $101,870 OD: $147,711 E: $214,181 F: $310,562 Submit Answer Tries 0/99
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