Condy Co. paid suppliers of merchandise inventory $700,000 during 2020. During 2020, inventory increased from a $92,000 beginning balance to a $105,000 ending balance, and accounts payable decreased from a $48,000 beginning balance to a $38,000 ending balance.  How much was cost of goods sold in 2020? Select one: a. $682,000 b. $687,000 c. $692,000 d. $702,000 e. $677,000

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