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Question(s) / Instruction(s):

A company's Inventory balance at 12/31/11 was $194,300 and $207,000 at 12/31/10. Its Accounts Payable balance at 12/31/11 was $91,000 and $86,300 at 12/31/10, and its cost of goods sold for 2011 was $727,000. The company's total amount of cash payments for merchandise in 2011 equals:

a)            $709,600.

b)            $727,000

c)            $735,000

d)            $719,000

e)            $744,400

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