Question: 5pts Question 11 Silk Enterprises operates a small retail store. Silk prepares accrual basis financial statements and makes all merchandise inventory purchases on account. During
5pts Question 11 Silk Enterprises operates a small retail store. Silk prepares accrual basis financial statements and makes all merchandise inventory purchases on account. During the current year, Silk's cost of goods sold is $193,000 and its cash payments to suppliers of inventory are $179.000. Which combination of changes to the inventory and accounts payable balances during the year are consistent with the difference between cost of goods sold and cash payments to suppliers of inventory? Inventory increased by $28,000 and accounts payable increased by $42.000 Inventory decreased by $28,000 and accounts payable decreased by $42,000. Inventory increased by $28,000 and accounts payable decreased by $42,000. Inventory decreased by $28,000 and accounts payable increased by $42,000. None of the above
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