A company reported cost of goods sold of $400,000 for the year. During the year, inventory increased from a $23,000 beginning balance to a $35,000 ending balance, and accounts payable increased from a $12,000 beginning balance to a $14,000 ending balance.
How much is the cash paid for merchandise purchased during the year?

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The Answer of A company reported cost of goods sold of $400,000 for the year. During the year, inventory increased from a $23,000 beginning balance to a $35,000 ending balance, and accounts payable increased from a $12,000 beginning balance to a $14,000 ending balance.
How much is the cash paid for merchandise purchased during the year?

A Company Reported Cost of Goods Sold of $400,000 for the Year