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

question 90

Multiple Choice

Use the following information about the current year's operations of a company to calculate the cash paid for merchandise. $$\begin{array} { l| l } \text { Cost d goods sold } \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & \$ 500,000 \\\hline \text { Merchandise inventory. January } 1 \ldots \ldots \ldots \ldots \ldots \ldots & 8 5 , 0 0 0 \\\hline \text { Mer chandise inventory. December } 31 \ldots \ldots \ldots \ldots \ldots & 97,000 \\\hline \text { Accounts payable, January } 1 \ldots \ldots \ldots \ldots \ldots \ldots \ldots \ldots & 68,000 \\\hline \text { Accounts payable, December } 31 \ldots \ldots \ldots \ldots \ldots \ldots & 60,000\end{array}$$

• A) $585,000.
• B) $508,000.
• C) $480,000.
• D) $512,000.
• E) $520,000.

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Definitions:

Oval Window

A membrane-covered opening that leads from the middle ear to the cochlea within the inner ear, playing a crucial role in the process of hearing.

Cochlea

The spiral-shaped, fluid-filled inner ear structure responsible for converting sound waves into nerve impulses to be interpreted by the brain.

Trichromat

A person with normal color vision.

Dichromat

A person who is sensitive to black–white and either red–green or blue–yellow and hence is partially color–blind.