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Increase in accounts payable related to inventory 50000

Question - The following information is available for Avalon Company for 2011:

Decrease in merchandise inventory $20000

Increase in accounts payable related to inventory $50000

Disbursements for purchases of merchandise $580000

What amount should Avalon report as cost of goods sold for 2011?

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Accounting Basics: Increase in accounts payable related to inventory 50000

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Accounting Basics: Increase in accounts payable related to inventory 50000

Reference No:- TGS02709094

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