Question:Based on the information below and considering that this company did not pay any money to its suppliers during the year, what is the company's cost of goods sold for 2015? Assume that the only source of Accounts Payable is the purchase of inventory on credit.

1/1/2015 12/31/2015

Inventory $57,380 $68,540

Accounts payable $78,000 $189,160

Select one:

a.$88,840

b.The answer cannot be determined with the information provided

c.$11,160

d.$100,000

Based on the information below and considering that this company paid $100,000 in cash to its suppliers during the year, what is the company's cost of goods sold for 2015? Assume that the only source of Accounts Payable is the purchase of inventory on credit.

1/1/2015 12/31/2015

Inventory $122,400 $123,500

Accounts payable $54,000 $0

Select one:

a.$45,800

b.None of these

c.$1,100

d.$54,200

The following data is available for an item of JNC Inc. for the month of March:

March 1Inventory 15 units at $10 each

15 Purchase 30 units at $18 each

31 Purchase 24 units at $15 each

Sale 30 units

Using thefirst-in, first-outmethod, what is JNC Inc.'s cost of ending inventory for March?

Select one:

a.$510

b.$630

c.$360

d.$420