Question: Using your answer to Practice 212, compute how much cash was paid for inventory during the year. (a) All purchases of inventory were on account.

Using your answer to Practice 21€“2, compute how much cash was paid for inventory during the year.

Using your answer to Practice 21€“2, compute how much cash

(a) All purchases of inventory were on account.
(b) Sales for the year were $947,900.
(c) Cost of goods sold for the year was$404,600.

December 31 January 1 Accounts Payable. Inventory Accounts Receivable $58,200 39.400 87,000 $61,500 37,300 89,100

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