Question

A company had cost of goods sold of $150,000 during a given period. Compute cash paid for merchandise during this period given the following data:


Beginning Balance Ending Balance
Accounts payable $20,000 $17,500
Merchandise inventory 35,000 42,000

A. $145,500
B. $159,500
C. $140,500
D. $154,500
E. $157,000

Answer

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