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cost of goods sold totals $300,000\$300,000 for a company, with the inventory beginning balance being $50,000\$50,000 an atory ending balance being $150,000\$150,000. The company has no accounts payable.\newlineUsing the direct method, calculate the adjustment for cash payments made for inventory.\newlinea) $400,000\$400,000\newlineb) $350,000\$350,000\newlinec) $100,000\$100,000\newlined) $200,000\$200,000

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Q. cost of goods sold totals $300,000\$300,000 for a company, with the inventory beginning balance being $50,000\$50,000 an atory ending balance being $150,000\$150,000. The company has no accounts payable.\newlineUsing the direct method, calculate the adjustment for cash payments made for inventory.\newlinea) $400,000\$400,000\newlineb) $350,000\$350,000\newlinec) $100,000\$100,000\newlined) $200,000\$200,000
  1. Understand Inventory Components: Understand the components involved in calculating cash payments for inventory.\newlineWe have the following information:\newline- Cost of Goods Sold (COGS): $300,000\$300,000\newline- Inventory Beginning Balance: $50,000\$50,000\newline- Inventory Ending Balance: $150,000\$150,000\newline- No accounts payable, which means all inventory purchases are paid in cash.\newlineTo calculate cash payments for inventory, we need to adjust the Cost of Goods Sold by the change in inventory levels.
  2. Calculate Inventory Change: Calculate the change in inventory levels. Change in Inventory = Inventory Ending Balance - Inventory Beginning Balance Change in Inventory = $150,000−$50,000\$150,000 - \$50,000 Change in Inventory = $100,000\$100,000 This means that the inventory increased by $100,000\$100,000 over the period.
  3. Calculate Cash Payments: Calculate the cash payments made for inventory.\newlineCash Payments for Inventory = Cost of Goods Sold + Increase in Inventory\newlineCash Payments for Inventory = $300,000\$300,000 + $100,000\$100,000\newlineCash Payments for Inventory = $400,000\$400,000\newlineThis is the amount of cash that was paid for inventory purchases during the period.

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