The following information is available for Brimley Inc. Note: All inventory is purchased on account, and Accounts Payable relates only to the purchase of inventory.

Compute the following for 2008:
1. The ending balance in accounts receivable
2. The amount of cash paid for inventory
3. The amount of cost of goodssold

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Dec. 31, 2008 Dec. 31, 2007 Accounts receivable..-._ nventory Accounts payable Sales Cost of goods sold Cash collected from customers Cash paid for inventory Inventory purchased 65,000 47,000 483,000 $50,000 70,000 40,000 471,000 on account 295,000