Question: Arena, Inc. uses the direct method to prepare its statement of cash flows. Use the following information reported for 2019 to compute the amount of

Arena, Inc. uses the direct method to prepare its statement of

Arena, Inc. uses the direct method to prepare its statement of cash flows. Use the following information reported for 2019 to compute the amount of cash paid for merchandise inventory. Cost of Goods Sold, $134,000 Merchandise Inventory, beginning balance, $27,000 Merchandise Inventory, ending balance, $69,000 Accounts Payable, beginning balance, $7,900 Accounts Payable, ending balance, $5,100 O A. $173,200 B. $92,000 O c. $178,800 O D. $176,000

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