A company reported cost of goods sold of $826,800 for the year. During the year, inventory increased from a $180,000 beginning balance to a $216,000 ending balance, and accounts payable decreased from a $66,000 beginning balance to a $56,400 ending balance.
How much cash was paid for merchandise purchased during the year?

Question

A company reported cost of goods sold of $826,800 for the year. During the year, inventory increased from a $180,000 beginning balance to a $216,000 ending balance, and accounts payable decreased from a $66,000 beginning balance to a $56,400 ending balance. 
How much cash was paid for merchandise purchased during the year?

Quizplus · Accepted Answer

The Answer of A company reported cost of goods sold of $826,800 for the year. During the year, inventory increased from a $180,000 beginning balance to a $216,000 ending balance, and accounts payable decreased from a $66,000 beginning balance to a $56,400 ending balance. 
How much cash was paid for merchandise purchased during the year?

A Company Reported Cost of Goods Sold of $826,800 for the Year