Stockton-Meadows Incorporated Reports an Increase in Accounts Payable of $8,700

Multiple Choice

Stockton-Meadows Incorporated reports an increase in Accounts Payable of $8,700 and an increase in inventory of $51,000 for the current year. Accounts Payable relates solely to the purchase of merchandise. Sales on account were $529,000 and cost of goods sold was $374,000. The total purchases of merchandise for the period were:

A) $323,000.
B) $425,000.
C) $374,000.
D) $416,300.