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Sherman Corporation had January 1 and December 31 balances as follows. 1/1/20 12/31/20 Inventory $111,000 $128,000 Accounts payable 70,000 77,000 For 2020, cost of goods sold was $278,000. Compute Sherman’s
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Sherman Corporation had January 1 and December 31 balances as follows. 1/1/20 12/31/20 Inventory $111,000 $128,000 Accounts payable 70,000 77,000 For 2020, cost of goods sold was $278,000. Compute Sherman’s 2020 cash payments to suppliers.

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