Based on the Following Information Provided About a Company's Operations

question 45

Essay

Based on the following information provided about a company's operations, calculate its cost of goods purchased and its cash paid for merchandise.
$\begin{array}{|l|r|}\hline \text { Cost of goods sold } & \$ 413,000 \\\hline \text { Merchandise inventory, beginning year } & 70,000 \\\hline \text { Accounts payable, beginning year } & 52,000 \\\hline \text { Merchandise inventory, end-of-year } & 67,000 \\\hline \text { Accounts payable, end-of-year } & 48,000 \\\hline\end{array}$

---

Definitions:

Defense Research

The systematic investigation into and study of materials, methods, and technologies for the purpose of advancing national security and defense capabilities.

Gay Liberation Movement

A social and political movement of the late 20th century that sought equal rights and acceptance for homosexuals.

Stonewall Riot

A pivotal series of events that took place in 1969 in New York City, marking the beginning of the modern LGBTQ+ rights movement.

Law And Order

The legal and administrative system that enforces laws, ensures public safety, and maintains societal norms and peace.