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cariyeacarrothers456
cariyeacarrothers456
06.08.2021 • 
Business

Last year Anderson Corporation reported a cost of goods sold of $120,000. The company's inventory at the beginning of the year was $15,000, and its inventory at the end of the year was $25,000. The prepaid expense account increased by $4,000 between the beginning and end of the year, and the accounts payable account decreased by $6,000. Cost of goods sold adjusted to the cash basis under the direct method would be:.

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