Arena, Inc

Arena, Inc. uses the direct method to prepare its statement of cash flows. Use the following information reported for 2019 to compute the amount of cash paid for merchandise inventory. Cost of Goods Sold, $132,000
Merchandise Inventory, beginning balance, $28,000
Merchandise Inventory, ending balance, $66,000
Accounts Payable, beginning balance, $7700
Accounts Payable, ending balance, $5000

A) $172,700
B) $94,000
C) $170,000
D) $167,300