(Appendix 14A) Hayward Corporation Had Net Sales of $610,000 and Cost

question 28

Multiple Choice

(Appendix 14A) Hayward Corporation had net sales of $610,000 and cost of goods sold of $360,000 for the just completed year. Shown below are the beginning and ending balances for the year of various accounts:
The company prepares its statement of cash flows using the direct method.
-On its statement of cash flows,what amount should Howard show for its cost of goods sold adjusted to a cash basis (i.e.,cash paid to suppliers) ?

• A) $345,000
• B) $366,000
• C) $379,000
• D) $373,000

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Definitions:

Personal Care Items

Products intended for personal hygiene and grooming, such as soaps, shampoos, and cosmetics.

Customer Packaged Goods

Fast-moving items that are sold quickly and at a relatively low cost, often referred to as consumer packaged goods.

Online Shopping Addiction

A behavioral addiction characterized by an excessive or compulsive preoccupation with buying goods online.

Internet Shopping

The act of buying goods or services over the internet, often through virtual shops or marketplaces.