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

question 60

Multiple Choice

Use the following information about the current year's operations of a company to calculate the cash paid for merchandise.
$$\begin{array} { | l | r | } \hline \text { Cost of good sold } & \$ 536,000 \\\hline \text { Merchandise inventory, January 1 } & 64,800 \\\hline \text { Merchandise inventory, December 31 } & 57,000 \\\hline \text { Accounts payable, January 1 } & 64,400 \\\hline \text { Accounts payable, December 31 } & 59,000 \\\hline\end{array}$$

• A) $522,800
• B) $533,600
• C) $528,200
• D) $536,000
• E) $543,800

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Definitions:

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