Use the Direct Method of Cash Flows to Answer the Question

question 169

Short Answer

Use the direct method of cash flows to answer the question.
Beginning A/R: $68,000 Beginning Inventory: $42,500
Ending A/R: $79,000 Ending Inventory: $47,000
Credit Sales: $745,000 Beginning A/P: $29,000
Cost of Goods Sold: $412,000 Ending A/P: $36,300
Calculate the cost of merchandise purchased during the year.

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