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What were merchandise purchases in november

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Reference no: EM132736745

X Company, a merchandiser, prepares monthly financial statements. The following are account balances in November:

                           Accounts Payable.             Merchandise Inventory

November 1.        $52,491.                            $56,931
November 30          $16,340.                            $25,923

In November, payments of Accounts Payable were $338,930, and Cost of Goods Sold was $333,787.

Problem 1: Assuming that all merchandise purchases were on account, what were merchandise purchases in November?

A: $72,756

B: $96,765

C: $128,698

D: $171,168

E: $227,653

F: $302,779

Reference no: EM132736745

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