Question: QUESTION 2 Use the following information about the current year's operations of a company to calculate the cash paid for merchandise. Cost of goods sold

QUESTION 2 Use the following information about the current year's operations of a company to calculate the cash paid for merchandise. Cost of goods sold $ 530,000 Merchandise inventory, January 1 88,000 Merchandise inventory, December 31 103,000 Accounts payable, January 1 74,000 Accounts payable, December 31 63,000 5545,000 $556,000 $504,000 $541,000, $618,000

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