Question - 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. $426,000
B. $452,000
C. $430,000
D. $410,000