Question

Assume the following information was available for the current year's operations of the shoe company founded by Blake Mycoskie, TOMS. Use these data to calculate the cash paid for merchandise.


Cost of goods sold $226,000
Merchandise inventory, January 1 54,800
Merchandise inventory, December 31 57,400
Accounts payable, January 1 54,400
Accounts payable, December 31 59,800

A. $218,000
B. $223,200
C. $220,000
D. $228,800
E. $234,000

Answer

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