Based on the information below and considering that this company paid $100,000 in cash to its...
Based on the information below and considering that this company paid $100,000 in cash to its suppliers during the year, what is the company's cost of goods sold for 2015? Assume that the only source of Accounts Payable is the purchase of inventory on credit.
| 1/1/2015 | 12/31/2015 | |
|---|---|---|
| Inventory | $122,400 | $122,600 |
| Accounts payable | $54,000 | $0 |
Select one:
a. $45,800
b. None of these
c. $54,200
d. $200
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