Statler Corporation Has Beginning and Ending Accounts Payable Balances of $500

question 10

Multiple Choice

Statler Corporation has beginning and ending accounts payable balances of $500 and $950, respectively. Inventory had beginning and ending balances of $800 and $650, respectively. If cost of goods sold was $3,800, how much cash was spent to purchase inventory?

• A)$2,850
• B)$3,300
• C)$3,650
• D)$3,200

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