Calculate its cash paid for merchandise

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Question - Based on the following information provided about a company's operations, calculate its cost of goods purchased and its cash paid for merchandise.

Cost of good sold------------------------$413,000

Merchandise Inventory,beginning year------ 70,000

Accounts payable, beginning year---------- 52,000

Merchandise inventory, end-of-year-------- 67,000

Accounts payable, end-of-year------------- 48,000

Reference no: EM131796749

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