Tracy Co Had a Cost of Sales During the Year

question 24

Multiple Choice

Tracy Co had a cost of sales during the year just ended of $180 000.During the year accounts payable and inventory each increased by $16 000.What amount of cash was paid for purchases during the year?

• A)$152 000
• B)$180 000
• C)$176 000
• D)$160 000

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Definitions:

Recycled Plastic

Plastic material that has been collected, processed, and reformed into new products, reducing the need for virgin raw materials and minimizing environmental impact.

Retail Supermarkets

Large stores offering a wide variety of goods, primarily food and everyday essentials, in a self-service format.

Shelf-Facing

The practice of organizing and presenting products on retail shelves in a manner that makes them easily visible and accessible to customers, influencing their buying decisions.

Products

items or services offered for sale, including physical objects, digital goods, and services, created to meet consumer demands and needs.