Merrimack Farms, Ltd., made sales of $760,000 and had cost of goods sold of $390,000....
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Accounting
Merrimack Farms, Ltd., made sales of $760,000 and had cost of goods sold of $390,000. Inventory decreased by $18,000 and accounts payable decreased by $7,000. Accounts payable relates solely to the purchase of inventory. Operating expenses were $175,000. How much cash did Merrimack Farms pay for inventory during the year?
A. $177,000
B. $379,000
C. $397,000
D. $390,000
could you please show me your work ?
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