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Find what were merchandise purchases in november

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Reference no: EM132736779

X Company, a merchandiser, prepares monthly financial statements. The following are account balances in November:

Accounts Payable. Merchandise Inventory
November 1. $52,491. $56,931
November 30 $16,340. $25,923

Problem 1: In November, payments of Accounts Payable were $338,930, and Cost of Goods Sold was $333,787. Assuming that all merchandise purchases were on account, what were merchandise purchases in November?

A: $72,756

B: $96,765

C: $128,698

D: $171,168

E: $227,653

F: $302,779

Reference no: EM132736779

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