Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the cost of goods sold during the year was $53,520

The cost of goods sold during the year was $53,520. Inventories were $13,289 and $8,163...

80.2K

Verified Solution

Question

Accounting

The cost of goods sold during the year was $53,520. Inventories were $13,289 and $8,163 at the beginning and end of the year, respectively. Accounts payable (all owed to merchandise suppliers) were $5,895 and $4,430 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total

a. $53,520

b. $49,859

c. $5,895

d. $46,929

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

The accompanying data represent the pulse rates​ (beats per​ minute) of nine students. Treat the nine...

Medical Sciences
1.2K views

Ben is going to participate in the bodybuilding competition and he goes to work out every...

Biology
1.2K views

Carbon cycle Biotic 6 7 Respiration Total 1 An organism s role in the environment...

Physics
1.2K views

3 Assertion It is better to wash the clothes in cold soap solution Reason The...

Geometry
1.2K views

It is given that AC AD and CAB ZDAB A C B D Part A...

Basic Math
1.2K views

Letp(x) = x - x + 2x - 5.p(-3) can be computed via synthetic division...

Calculus
1.2K views

5 4 3 2 5 4 NWA 3 2 2 3 4 5 2 3...

Algebra
1.2K views

Let a h 20 10 and a2 H For what value s of h will...

Accounting
1.2K views

Thornton Manufacturing Company set its standard variable manufacturing cost at $25 per unit of product....

Accounting
1.2K views

Your boss read a recent magazine article about income statements, but he was unclear about...

Accounting
1.2K views

Sasha Co. shipped 100,000 rebate coupons in products sold during 2005. The coupons are redeemable...

Accounting
1.2K views

2. (TCO D) Mott Co. incluye un cupn en cada bolsa de comida para perros...