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kiner co paid 102 000 to suppliers of merchandise inventory during the year all inve 732886

Kiner Co. paid $102,000 to suppliers of merchandise inventory during the year. All inventory is purchased on credit. The company also reported the following:

 

Inventory

(all bought on credit)

Accounts Payable

(allfor Inventory)

Beginning balance

 

$192,000

 

$132,000

Ending balance

$135,000

$177,000

       

What was Kiner’s Cost of Goods Sold for the year?

a. $ 57,000

b. $147,000

c. $159,000

d. $204,000

e. None of the above.

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