A company's Inventory balance at the end of the year was $188,900 and $201,000 at at the beginning of the year. Its Accounts Payable balance at the end of the year was $85,000 and $80,900 at the beginning of the year, and its cost of goods sold for the year was $721,000. The company's total amount of cash payments for merchandise during the year equals:
A. $737,200.
B. $704,800.
C. $721,000.
D. $729,000.
E. $713,000.
Answer: B
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