Noble Construction Ltd. reported a Cost of Goods Sold (COGS) for the current year of $420,000. During the same period, the Inventory account decreased by $18,000, and the Accounts Payable account increased by $30.000. The amount of cash paid to suppliers for inventory is:

Noble Construction Ltd. reported a Cost of Goods Sold (COGS) for the current year of $420,000. During the same period, the Inventory account decreased by $18,000, and the Accounts Payable account increased by $30.000. The amount of cash paid to suppliers for inventory is:

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...

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Noble Construction Ltd. reported a Cost of Goods Sold (COGS) for
the current year of $420,000. During the same period, the
Inventory account decreased by $18,000, and the Accounts Payable
account increased by $30.000.
The amount of cash paid to suppliers for inventory is:

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Ans
The cost of merchandise sold by Kohl's Corporation for a recent year was $12,265 million. The balance sheet showed the following current account balances (in millions): Merchandise inventories Accounts payable Balance, End of Year Balance, Beginning of Year $ 4,038 1,251 $ 3,814 1,511 Determine the amount of cash payments for merchandise.
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Financial accounting