The cost of goods sold during the year was $244000. Inventory decreased by $8000 during the year and accounts payable decreased by $9600 during the year. Using the direct method of reporting cash flows from operating activities, cash payments for inventory total $226400. $245600. $253600. $261600.

The cost of goods sold during the year was $244000. Inventory decreased by $8000 during the year and accounts payable decreased by $9600 during the year. Using the direct method of reporting cash flows from operating activities, cash payments for inventory total $226400. $245600. $253600. $261600.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...

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please step by step answer solution.

The cost of goods sold during the year was $244000. Inventory decreased by $8000 during the year and accounts payable decreased
by $9600 during the year. Using the direct method of reporting cash flows from operating activities, cash payments for inventory total
$226400.
$245600.
$253600.
$261600.

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