Winter Sportswear Inc. reported the following in its December 31, 2017, financial statements. 2017 2016 Inventory.................$55,600............$50,000 Accounts
Question:
2017 2016
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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a Increase in inventory 5600 Add Cost of goods ...View the full answer
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Related Book For 
Accounting Principles
ISBN: 978-1119048473
7th Canadian Edition Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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