Using the following information and assuming that all inventory is purchased on account, compute cash paid for

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Using the following information and assuming that all inventory is purchased on account, compute cash paid for inventory:

Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $36,843

Inventory, beginning balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,110

Inventory, ending balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,982

Accounts payable, beginning balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,576

Accounts payable, ending balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,718


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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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