Question:During the year, XYZ Company's inventory account balance increased from $26,000 to $31,500. During the year, the company made payments totaling $152,500 to creditors for inventory purchases and reported Cost of Goods Sold of $159,500 on its Income Statement. How much inventory was purchased during the year? 

A $165,000 
B $158,000 
C $152,500 
D $159,500 

+ Answer
B 

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Md. Habib Ullah

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