Cost of Goods Financial Statements
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1. The financial statement for a company shows the following: Cost of good sold $750,000. Merchandise Inventory has a beginning balance of $45,000 and ending balance of $45,000. Account Receivable has a beginning balance of %53,000 and an ending balance of $50,000. Accounts payable has a beginning balance of $37,000 and an ending balance of $42,000. What is the cash paid for merchandise?
A. $736,000
B. $719,000
C. $731,000
D. $714,000
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Solution Summary
The expert examines the cost of good financial statements.
Education
- MBA, Indian Institute of Finance
- Bsc, Madras University
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