A company reported cost of goods sold of $1,760,000 for the year. During the year, inventory increased from a $92000 beginning balance to a $140,000 ending balance, and accounts payable increased from a $48,000 beginning balance to a $56,000 ending balance.

How much is the cash paid for merchandise purchased during the year?

Answer rating: 100% (QA)

Cost of Goods sold 1760000 Add Ending Invent... View the full answer