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27-12-2022
Business

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The cost of merchandise sold during the year was $58,706. Merchandise inventories were $12,831 and $8,381 at the beginning and end of the year, respectively. Accounts payable were $5,017 and $4,722 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, find the total cash payments for merchandise. Select the correct answer. a. $5,017 b. $58,706 c. $54,551 d. $53,961

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