The cost of goods sold during the year was $330,000. Inventory increased by $12,000 during the year and accounts payable decreased by $19,000 during the year. Using the direct method of reporting cash flows from operating activities, cash payments for inventory total

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The cash payments for inventory are calculated as: Cost of Goods Sold ($330,000) + Increase in Inventory ($12,000) + Decrease in Accounts Payable ($19,000) = $361,000.

The Cost of Goods Sold During the Year Was $330,000