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Business, 15.04.2021 22:50 jorfos7683

Last year Anderson Corporation reported a cost of goods sold of $118,000. The company's inventory at the beginning of the year was $14,600, and its inventory at the end of the year was $24,400. The prepaid expense account increased by $3,800 between the beginning and end of the year, and the accounts payable account decreased by $5,800. Cost of goods sold adjusted to the cash basis under the direct method would be:

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