The cost of goods sold during the year was $305,000.Inventory decreased by $10,000 during the year and accounts payable decreased by $12,000 during the year.Using the direct method of reporting cash flows from operating activities, cash payments for inventory total
A)$317,000.
B)$307,000.
C)$283,000.
D)$327,000.

Question

Quizplus · Accepted Answer

The Answer of The cost of goods sold during the year was $305,000.Inventory decreased by $10,000 during the year and accounts payable decreased by $12,000 during the year.Using the direct method of reporting cash flows from operating activities, cash payments for inventory total
A)$317,000.
B)$307,000.
C)$283,000.
D)$327,000.

The Cost of Goods Sold During the Year Was $305,000