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During the Most Recent Fiscal Year,a Company's Inventory Account Increased

Question 24

Multiple Choice

During the most recent fiscal year,a company's inventory account increased $45,200 and its accounts payable account decreased $20,800.If the accounts payable is solely related to inventory purchases and sales are $1,500,000 and cost of goods sold is $1,030,000,then what is the amount of payments made to inventory suppliers?


A) $536,000
B) $66,000
C) $1,054,400
D) $1,096,000
E) None of the answer choices is correct.

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