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Use the Following Information About the Current Year's Operations of a Company

question 36

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Use the following information about the current year's operations of a company to calculate the cash paid for merchandise. Cost of goods sold. $735,000Merchandise inventory, January 1. 84,700Merchandise inventory, December 31 82,400Accounts payable, January 1. 54,500Accounts payable, December 31. 60,200\begin{array} { l } \text {Cost of goods sold. } &\$735,000\\ \text {Merchandise inventory, January 1. } &84,700\\ \text {Merchandise inventory, December 31 } &82,400\\ \text {Accounts payable, January 1. } &54,500\\ \text {Accounts payable, December 31. } &60,200\\\end{array}


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