11. Kiner Co. paid $102,000 to suppliers of merchandise inventory during the year. All inventory is...

 

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11. Kiner Co. paid $102,000 to suppliers of merchandise inventory during the year. All inventory is purchased on account. The company also reported the following: Inventory (all bought on account) $192,000 $135,000 Beginning balance Ending balance What was Kiner's Cost of Goods Sold for the year? Accounts Payable (all for Inventory) $132,000 $177,000 11. Kiner Co. paid $102,000 to suppliers of merchandise inventory during the year. All inventory is purchased on account. The company also reported the following: Inventory (all bought on account) $192,000 $135,000 Beginning balance Ending balance What was Kiner's Cost of Goods Sold for the year? Accounts Payable (all for Inventory) $132,000 $177,000

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