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Question - A company reported cost of goods sold of $1,760,000 for the year. During the year, inventory increased from a $92,000 beginning balance to a $140,000 ending balance, and accounts payable increased from a $48,000 beginning balance to a $56,000 ending balance. How much is the cash paid for merchandise purchased during the year?
a. $1,660,000
b. $1,800,000
c. $1,808,000
d. $1,704,000
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