Solution-How much were cash purchases of inventory

How much were cash purchases of inventory

Reference no: EM133013810

Question - For the first year of operations, a company's Income Statement shows $4,000,000 in Cost of Goods Sold. Inventories were zero at the beginning of the year and $400,000 at the end of the year. Accounts payable were zero at the beginning of the year and $500,000 at the end of the year. How much were cash purchases of inventory?

Reference no: EM133013810

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How much were cash purchases of inventory

Reference no: EM133013810

Reference no: EM133013810

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