Multiple Choice
The Merchandise Inventory for Year 1 was $100,000 and for Year 2 was $94,000.The Accounts Payable account for Year 1 was $40,000 and for Year 2 was $42,000.Cost of goods sold for Year 2 was $460,000.What was the total amount for cash payments for merchandise for Year 2?
A) $448,000
B) $449,000
C) $452,000
D) $456,000
E) $84,000
Correct Answer:
Verified
Correct Answer:
Verified
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