Business, 30.05.2020 03:04 gagehamel

Each year, Grey Mountain Enterprises (GME) prepares a reconciliation schedule that compares its income statement with its statement of cash flows on both the direct and indirect method bases. In its 2021 income statement, GME reported $440,000 for the cost of goods sold. GME paid inventory suppliers $380,000 in 2021, and its inventory balance decreased by $41,000 during the year. In its reconciliation schedule, GME should:

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