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Home Q & A Board Other Fields Homework Help Business Accounting
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tivo tivo
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7 years ago
Cost of goods sold for the year was $700,000. Inventory was $80,000 at the beginning of the year and $35,000 at the end of the year. There were no changes in the amount in account payable for the year. Cash payment for merchandise to be reported under the direct method is:
A) $745,000.
B) $655,000.
C) $815,000.
D) $585,000.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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largerthanlifelargerthanlife
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tivo Author
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#2
7 years ago
Luckily this is the last business course I'll be taking. Thank you greatly
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