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The companys cost of goods sold during the year was 2975000


Question - The general ledger of MPX, Inc., provides the following information relating to purchases of merchandise:

                                                                  End of Year            Beginning of Year

Inventory                                                     $820,000                  $780,000

Accounts payable to merchandise suppliers      430,000                    500,000

The company's cost of goods sold during the year was $2,975,000. Compute the amount of cash payments made during the year to suppliers merchandise.

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Accounting Basics: The companys cost of goods sold during the year was 2975000
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