A company uses the indirect method to prepare the statement of cash flows. It presents the following amounts on its financial statements.
|End of this year||End of prior year|
|Cost of goods sold||550,000|
*Relates solely to the acquisition of inventory.
What will appear in the operating activities section related to inventory?
|A. The decrease of $21,000 will be subtracted from net income.|
|B. The decrease of $21,000 will be subtracted from cost of goods sold.|
|C. The decrease of $21,000 will be added to net income.|
|D. The decrease of $21,000 will be added to cost of goods sold.|
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