Question: The Mercer Company uses cash basis of accounting. Mercer Company made 5500,000 in payments to its suppliers during the year. Mercer's beginning inventory was

The Mercer Company uses cash basis of accounting. Mercer Company made 5500,000

in payments to its suppliers during the year. Mercer's beginning inventory was

The Mercer Company uses cash basis of accounting. Mercer Company made 5500,000 in payments to its suppliers during the year. Mercer's beginning inventory was 520,000, and its ending inventory was S35,OOO. In addition, Mercer had a beginning payable of $50,000 and an ending accounts payable of $70,000. What is Mercer's cost of goods sold under the accrual basis of accounting?

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