Answer:
Accounts payable at the end of December would be $184,500
Explanation:
In order to calculate the Accounts payable at the end of December we would have to calculate the following formula as follows:
Accounts payable at the end of December=cost of goods sold+ Desired ending inventory- Beginning inventory
cost of goods sold=Sales×percentage of cost of goods sold
cost of goods sold=$326,000×75%
cost of goods sold=$244,500
Desired ending inventory=$226,000*75%*80%
Desired ending inventory=$135,600
Beginning inventory=$244,500*80%
Beginning inventory=$195,600
Therefore, Accounts payable at the end of December=$244,500+$135,600 - $195,600
Accounts payable at the end of December=$184,500
Accounts payable at the end of December would be $184,500
