If cost of goods sold in january was 303234 what was the

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The following information is for X Company, a merchandiser:

Accounts Payable, January 1	$56,065
Accounts Payable, January 31	$53,250
Payments of accounts payable	$328,195
Merchandise Inventory, January 1	$51,584

If Cost of Goods Sold in January was $303,234, what was the balance in Merchandise Inventory on January 31 (assume that all merchandise purchases are on account)?

Reference no: EM13572876

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