Set up a spreadsheet that can be used to estimate cash paid for inventory. Then determine the cash paid for inventory with the following parameters:
A.
Inventory, beginning ........................................................... $ 10,000
Inventory, ending ................................................................ 20,000
Accounts Payable, beginning ............................................... 8,000
Accounts Payable, ending .................................................... 12,000
Cost of Goods Sold ............................................................. 450,000
B.
Inventory, beginning ........................................................... $ 20,000
Inventory, ending ................................................................. 30,000
Accounts Payable, beginning ............................................... 16,000
Accounts Payable, ending ..................................................... 24,000
Cost of Goods Sold ................................................................ 900,000
C.
Inventory, beginning ........................................................... $ 20,000
Inventory, ending ................................................................ 10,000
Accounts Payable, beginning .............................................. 12,000
Accounts Payable, ending ................................................... 8,000
Cost of Goods Sold ............................................................. 450,000
D.
Inventory, beginning ........................................................... $ 70,000
Inventory, ending .................................................................. 80,000
Accounts Payable, beginning ................................................ 38,000
Accounts Payable, ending ..................................................... 50,000
Cost of Goods Sold .............................................................. 875,000