Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the cost of goods sold during the year was $56,446

The cost of goods sold during the year was $56,446. Merchandise inventories were $12,097 and...

60.1K

Verified Solution

Question

Accounting

The cost of goods sold during the year was $56,446. Merchandise inventories were $12,097 and $8,250 at the beginning and end of the year, respectively. Accounts payable (all owed to merchandise suppliers) were $5,352 and $4,140 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, find the total cash payments for merchandise. Select the correct answer.

$56,446

$51,387

$53,811

$5,352

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

8 If you can buy four bulbs of elephant garlic for 8 then how many...

Finance
1.2K views

A company currently pays a dividend of $3.75 per share (D0 = $3.75). It is estimated...

Biology
1.2K views

what prevents electrons from flowing in reverse during electron transport after being dropped off by the...

Programming
1.2K views

This requirement can be met by using generic data, the correct mysql coding of script is...

Accounting
1.2K views

How would you enforce least privilege and SoD controls in your system? Please provide an example.

Physics
1.2K views

2 F 100 V Fig 25 25 3 F a the equivalent capacitance b the...

Physics
1.2K views

28 96 A sound source is moving with speed 5 m s towards a wall...

Physics
1.2K views

State the representation with no spaces between numbers A Question 8 1 point What is...

Basic Math
1.2K views

Assume that a sample is used to estimate a population mean ?. Use the given...

Calculus
1.2K views

Find f g x and g f x f x x 1 g x 12x...

Algebra
1.2K views

Find the product 1 2 4 3 5 1 2 4 3 5 Simplify your...

Accounting
1.2K views

"Express kidnapping" targets A. expatriates. B. home country nationals. C. domestic affiliates. D. legislators