Louisiana State University, Shreveport ACC ACC 701 Based on the information below and considering that this company…
Based on the information below and considering that this company paid $100,000 in cash to its suppliers during the year, what is the company’s cost of goods sold for 2015? Assume that the only source of Accounts Payable is the purchase of inventory on credit.
Inventory $122,400 $123,500
Accounts payable $54,000 $0
b. None of these
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