Electronic Superstore's inventory increases during the year by $3.4 million, and its accounts payable to suppliers...
Electronic Superstore's inventory increases during the year by
$3.4 million, and its accounts payable to suppliers increases by
$5.4 million during the same period.
What is the amount of cash paid to suppliers of merchandise during
the reporting period if its cost of goods sold is $29.0 million?
(Round your answers to 1 decimal place. Enter your answers
in millions (i.e., $10,100,000 should be entered as
10.1).)
Homework Answers
Cash paid to suppliers
= Cost of Goods Sold + inventory increase - accounts payable increase
= 29 + 3.4 - 5.4
= 27 million
Comment if you face any issues
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