Question: Avatar Company uses the direct method to prepare its statement of cash flows. Please refer to the following information reported for the year 2014: Cost
Avatar Company uses the direct method to prepare its statement of cash flows. Please refer to the following information reported for the year 2014: Cost of goods sold $110,000 Inventory beginning balance: $25,000 Inventory ending balance: $53,000 Accounts payable beginning balance: $6,000 Accounts payable ending balance: $4,000 What amount was paid to suppliers for inventory purchases on a cash basis?
| $140,000 |
| $80,000 |
| $136,000 |
| $82,000 |
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