Question a companys inventory balance was 230000 at 123111, Ask an Expert

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Question: A company's inventory balance was $230,000 at 12/31/11 and $215,000 at 12/31/12. Its accounts payable balance was $92,000 at 12/31/11 and $97,500 at 12/31/12, and its cost of goods sold for 2012 was $828,000. The company's total amount of cash payments for merchandise in 2012 equals:

A) $848,500

B) $807,500

C) $828,000

D) $837,500

E) $818,500

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92572410

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