Statler Corporation Has Beginning and Ending Accounts Payable Balances of $400

question 4

Multiple Choice

Statler Corporation has beginning and ending accounts payable balances of $400 and $800,respectively.Inventory had beginning and ending balances of $700 and $600,respectively.If cost of goods sold was $2,800,how much cash was spent to purchase inventory?

• A)$2,100
• B)$2,500
• C)$2,700
• D)None of these answer choices is correct