Assume cash paid to suppliers for the current year is $350,000,merchandise inventory increased by $5,000 during the year,and accounts payable decreased by $10,000 during the year.What was the cost of goods sold for the current year?
A) $335,000
B) $345,000
C) $355,000
D) $365,000

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The Answer of Assume cash paid to suppliers for the current year is $350,000,merchandise inventory increased by $5,000 during the year,and accounts payable decreased by $10,000 during the year.What was the cost of goods sold for the current year?
A) $335,000
B) $345,000
C) $355,000
D) $365,000

Assume Cash Paid to Suppliers for the Current Year Is