Last Year Marton Corporation Reported a Cost of Goods Sold

Multiple Choice

Last year Marton Corporation reported a cost of goods sold of $720,000 on its income statement. The following additional data were taken from the company's comparative balance sheet for the year: The company uses the direct method to determine the net cash provided by operating activities on the statement of cash flows. The cost of goods sold adjusted to a cash basis would be:

A) $740,000
B) $767,000
C) $747,000
D) $673,000