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Compute the cost of goods sold for the year

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Derive cost of goods sold in data in the statement of cash flows The section showing cash flow from operations, using the indirect method, for Ann Taylor Stores reported an increase in inventories of $5.7 million during the year. It reported also that the balance in accounts payable for inventories increased by $5.9 million. The direct method would show cash payments for merchandise inventory purchased of $646.9 million. Compute the cost of goods sold for the year.

Reference no: EM13508600

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