Problem: Compass Mineral Group’s Inventory account decreased $37,500 and its Accounts Payable account (which relates solely to the purchase of merchandise) decreased $13,760 during the year. Compass also reported sales of $856,000 and cost of goods sold (COGS) of $597,600 during the same period. Compass’s payments to suppliers for inventory during the year were: a. $621,340 b. $573,860 c. $805,740 d. $648,860

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Compass Mineral Group’s Inventory account decreased $37,500 and its Accounts Payable account (which relates solely to the purchase of merchandise) decreased $13,760 during the year. Compass also reported sales of $856,000 and cost of goods sold (COGS) of $597,600 during the same period. Compass’s payments to suppliers for inventory during the year were:

a. $621,340

b. $573,860

c. $805,740

d. $648,860

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