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  3. the cost of goods sold during the year was $53,520

The cost of goods sold during the year was $53,520. Inventories were $13,289 and $8,163...

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Accounting

The cost of goods sold during the year was $53,520. Inventories were $13,289 and $8,163 at the beginning and end of the year, respectively. Accounts payable (all owed to merchandise suppliers) were $5,895 and $4,430 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total

a. $53,520

b. $49,859

c. $5,895

d. $46,929

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