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    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.

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