Hayward Corporation Had Net Sales of $610,000 and Cost of Goods

question 6

Multiple Choice

Hayward Corporation had net sales of $610,000 and cost of goods sold of $360,000 for the just completed year. Shown below are the beginning and ending balances for the year of various accounts: The company prepares its statement of cash flows using the direct method. On its statement of cash flows, what amount should Howard show for its cost of goods sold adjusted to a cash basis (i.e., cash paid to suppliers) ?

• A)$345,000
• B)$366,000
• C)$379,000
• D)$373,000

---

Definitions:

Chief Executive Officers

Top executives in charge of managing an organization or corporation, responsible for strategic planning, decision-making, and overall direction.

Fund-Raising

Fund-raising refers to the process of collecting financial contributions to support the activities, projects, or cause of a nonprofit organization or other entity.

Transformational Leadership

A leadership style that inspires and motivates followers to exceed their own interests for the good of the group or organization.

Behavioristic

Relating to or concerned with the study of behavior, especially in humans or animals, without reference to mental states.