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What were merchandise purchases in November

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

 

Accounts Payable

Merchandise Inventory

November 1

$50,161

$53,772

November 30

$80,135

$68,023

In November, payments of Accounts Payable were $306,500, and Cost of Goods Sold was $322,223.

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

A: $206,366

B: $233,193

C: $263,508

D: $297,765

E: $336,474

F: $380,216

Reference no: EM132788915

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