Lowes Inc., home improvement retailer, reported cost of goods sold of $33,729 million for the fiscal year ended January 30, 2021. It reported merchandise inventories of $9,611 million at the beginning of fiscal 2021 and $10,209 million at the end of fiscal 2021. It reported accounts payable to suppliers of $5,713 million at the beginning of fiscal 2021 and $6,109 million at the end of fiscal 2021. Compute the amount of cash paid to merchandise suppliers during fiscal 2021.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Lowes Inc., home improvement retailer, reported cost of goods sold of $33,729 million for the fiscal year ended January 30, 2021. It reported merchandise inventories of $9,611 million at the beginning of fiscal 2021 and $10,209 million at the end of fiscal 2021. It reported
accounts payable to suppliers of $5,713 million at the beginning of fiscal 2021 and $6,109 million at the end of fiscal 2021. Compute the amount of cash paid to merchandise suppliers during fiscal 2021.

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