The total cost of goods sold was recorded as $65,900 on the income statement. The inventory account had a beginning balance of $3,000 and an ending balance of $4,500. How much cash was disbursed for food purchases during the year?

The total cost of goods sold was recorded as $65,900 on the income statement. The inventory account had a beginning balance of $3,000 and an ending balance of $4,500. How much cash was disbursed for food purchases during the year?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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