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Based on the following information provided about a company's operations, calculate its cost of goods purchased and its cash paid for merchandise.

Cost of goods sold..... $413000
Merchandise inventory, beginning year....70000
Accounts payable, beginning year ...... 52000
Merchandise inventory, end-of-year........67000
Accounts payable, end-of-year..............48000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9983456

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