(Answered) Northern lights companys cost of goods sold for the

Finance

Northern Lights Company's cost of goods sold for the calendar year 20-B amounted to $540,000. The beginning and ending balances of Merchandise Inventory and Accounts Payable were as follows:

Dec. 31,

20-B

Dec. 31, 20-

Merchandise Inventory

$83,000

$79,000

Accounts Payable

33,000

30,000

Required:

Compute the amount of cash paid for merchandise in 20-B.

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