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Assume the Following Information Was Available for the Current Year's

question 97

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Assume the following information was available for the current year's operations of the shoe company founded by Blake Mycoskie,TOMS.Use these data to calculate the cash paid for merchandise.
 Cost of goods sold $226,000 Merchandise inventory, January 1 54,800 Merchandise inventory, December 31 57,400 Accounts payable, January 1 54,400 Accounts payable, December 31 59,800\begin{array}{|l|r|}\hline \text { Cost of goods sold } & \$ 226,000 \\\hline \text { Merchandise inventory, January 1 } & 54,800 \\\hline \text { Merchandise inventory, December 31 } & 57,400 \\\hline \text { Accounts payable, January 1 } & 54,400 \\\hline \text { Accounts payable, December 31 } & 59,800 \\\hline\end{array}


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