Answer:
Option (B) is correct.
Explanation:
Given that,
cost of goods sold = $1,760,000
Beginning Inventory = $92,000
Ending Inventory = $140,000
Beginning Accounts payable = $48,000
Ending Accounts payable = $56,000
Total Purchase:
= Cost of Goods sold + Ending Inventory - Beginning Inventory
= $1,760,000 + $140,000 - $92,000
= $1,808,000
Cash paid for merchandise purchased:
= Total Purchase + Beginning Accounts payable - Ending Accounts payable
= $1,808,000 + $48,000 - $56,000
= $1,800,000
