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Calculate the amount of cost of goods sold shown

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Reference no: EM132569657

THE Company's 2022 statement of cash flows reported cash paid to suppliers for purchases of inventory of $367,000. The following accounts were taken from THE Company's balance sheets during 2022:

                                         Jan. 1, 2022                  Dec. 31, 2022
Accounts payable                    68,000                           24,000
Accounts receivable                 79,000                           84,000
Inventory                               26,000                           84,000

Question 1: Calculate the amount of cost of goods sold shown on THE Company's 2022 income statement.

Reference no: EM132569657

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