Answer to question from practice exam. Question 8 **Foot Locker, Inc. is a retailer of athletic footwear and apparel**---**Question 8** *Not yet answered | Not graded | Flag question*Foot Locker, Inc. is a retailer of athletic footwear and apparel. During a recent fiscal year, Foot Locker purchased merchandise inventory costing $4,047 (\$ millions). Assume that Foot Locker makes all purchases on credit, and that its accounts payable is only used for inventory purchases. The following T-accounts reflect information contained in the company’s balance sheets (\$ millions).**Inventories** - Beg. Bal.: 1,151 - End. Bal.: 1,254 **Accounts Payable** - Beg. Bal.: 381 - End. Bal.: 361 ---**Question:** What amount did Foot Locker pay in cash to its suppliers during the fiscal year? - A. $4,067 million - B. $20 million - C. $381 million ---**Lowe's is the second-largest home improvement retailer in the world****Question 9** *Not yet answered | Not graded | Flag question*Lowe’s is the second-largest home improvement retailer in the world. During a recent fiscal year, Lowe’s purchased merchandise inventory at a cost of $29,238 (\$ millions). Assume that all purchases were made on account and that accounts payable is only used for inventory purchases. The following T-accounts reflect information contained in the company's balance sheets (\$ millions).---**Support Section** - Includes options for assistance and subscriptions.

T-account: The condensed form of a ledger is referred to as T-account. The left-hand side of this…

Foot Locker, Inc. is a retailer of athletic footwear and apparel. During arecent fiscal year, Foot Locker purchased merchandise inventory costing $4,047 (S millions). Assume that Foot Locker makes all purchases on credit, and that its accounts payable is only used for inventory purchases. The following T-accounts reflect information contained in the company's balance sheets ($ millions). Whata-