Gladiator Ltd Uses the Direct Method to Prepare Its Cash

question 75

Multiple Choice

Gladiator Ltd uses the direct method to prepare its cash flow statement.Refer to the following information reported for the year 2016: Cost of sales,$132,000
Inventory,beginning balance,$26,000
Inventory,ending balance,$65,000
Accounts payable,beginning balance,$7900
Accounts payable,ending balance,$5400
What is the amount of cash paid for inventory?

• A)$173,500
• B)$93,000
• C)$168,500
• D)$171,000

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The collective judgment or viewpoint shared among members of a group.

Conform

To change one’s behavior or beliefs in order to match those of others, often as a result of real or imagined group pressure.

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Microorganisms or toxins that can cause diseases or medical conditions in humans, animals, or plants.

Leakproof Containers

Containers designed to prevent the escape or entry of liquids or gases, ensuring contents are securely stored without spillage.