Last year Emmons Company reported a cost of goods sold of $115,000. Inventories decreased by $20,000 during the year, and accounts payable decreased by $15,000. The company uses the direct method to determine the net cash flows from operating activities on the statement of cash flows. The cost of goods sold adjusted to a cash basis would be:
A) $120,000.
B) $110,000.
C) $95,000.
D) $130,000.
B
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