The cost of merchandise sold during the year was $45,000. Merchandise inventories were $13,500 and $10,500 at the beginning and end of the year, respectively. Accounts payable were $7,000 and $5,000 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total

cash payments for merchandise total is $44,000

Explanation:

purchase for the year

Beginning Investment + Purchases - Ending Investment = Cost of Merchandise sold

13,500 + Purchases - 10,500 = 45,000

Purchases = 42,000

Therefore, the total cash paid  for merchandise

Beg. A/P + Purchases - End. A/P = Cash Paid

7,000 + 42,000 - 5,000 = $44,000

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