Winter Sportswear Inc. reported the following in its December 31, 2014, fi nancial statements. 2014 2013 Inventory...............................$55,600........$50,000

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Winter Sportswear Inc. reported the following in its December 31, 2014, fi nancial statements.

2014 2013

Inventory...............................$55,600........$50,000

Accounts payable.......................62,200.........55,000

Cost of goods sold.....................89,500

Calculate (a) the cost of goods purchased, and (b) cash payments to suppliers.

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Accounting Principles Part 3

ISBN: 978-1118306802

6th Canadian edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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Question Posted: Mar 31, 2017 01:08 AM

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Winter Sportswear Inc. reported the following in its December 31, 2014, fi nancial statements. 2014 2013 Inventory...............................$55,600........$50,000

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a Increase in inventory 5600 Add Cost of good...View the full answer

Accounting Principles Part 3

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