Answered: Cost of goods sold = 100,000 Merch at…

Cost of goods sold = 100,000 Merch at Beginning = 50,000 Merch at End = 45,000 Acct Payable Beginning = 30,000 Acct Payable End = 40,000 What is Cash paid for merch this year?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 3MC

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Concept explainers

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.

Question

Cost of goods sold = 100,000

Merch at Beginning = 50,000
Merch at End = 45,000

Acct Payable Beginning = 30,000
Acct Payable End = 40,000

What is Cash paid for merch this year?

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