Solved: The companys cost of goods sold during the year was 2975000, Accounting Basics

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The companys cost of goods sold during the year was 2975000

Question - The general ledger of MPX, Inc., provides the following information relating to purchases of merchandise:

End of Year Beginning of Year

Inventory $820,000 $780,000

Accounts payable to merchandise suppliers 430,000 500,000

The company's cost of goods sold during the year was $2,975,000. Compute the amount of cash payments made during the year to suppliers merchandise.

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Accounting Basics: The companys cost of goods sold during the year was 2975000

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Accounting Basics: The companys cost of goods sold during the year was 2975000

Reference No:- TGS02709464

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