Use the following information about the current year operations of a company to calculate the...
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Accounting
Use the following information about the current year operations of a company to calculate the cash paid for merchandise. Cost of goods sold Merchandise inventory, January 1 Merchandise inventory, December 31 Accounts payable, January 1 Accounts payable, December 31 $ 226,000 54,800 57,400 54,400 59,800 Multiple Choice $220,000 $218.000 $228,800 3 $223,200
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