Berlin & Snider Enterprise's Inventory account decreased $29,700 and its Accounts Payable account (which relates solely to the purchase of merchandise) decreased $11,550 during the year. Berlin & Snider also reported sales of $757,000 and cost of goods sold of $503,400 during the same period. Berlin & Snider's payments to suppliers for inventory during the year were:
A) $521,550.
B) $544,650.
C) $485,250.
D) $715,750.
Correct Answer:
Verified
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