In its 2018 Annual Report to Shareholders, Kinney Inc. reported the following Consolidated Statement of Cash Flows:
For the years ended December 31,

-Kinney reported cost of goods sold of $168,114,150 in its fiscal 2018 income statement Assuming that Kinney uses accounts payable strictly for inventory purchases and that all such purchases are on credit, how much cash did Kinney pay during the year for inventories:
(a) To inventory suppliers?
(b) To employees?

Question

In its 2018 Annual Report to Shareholders, Kinney Inc. reported the following Consolidated Statement of Cash Flows:
For the years ended December 31,

-Kinney reported cost of goods sold of $168,114,150 in its fiscal 2018 income statement Assuming that Kinney uses accounts payable strictly for inventory purchases and that all such purchases are on credit, how much cash did Kinney pay during the year for inventories:
(a) To inventory suppliers?
(b) To employees?

Quizplus · Accepted Answer

The Answer of In its 2018 Annual Report to Shareholders, Kinney Inc. reported the following Consolidated Statement of Cash Flows:
For the years ended December 31,

-Kinney reported cost of goods sold of $168,114,150 in its fiscal 2018 income statement Assuming that Kinney uses accounts payable strictly for inventory purchases and that all such purchases are on credit, how much cash did Kinney pay during the year for inventories:
(a) To inventory suppliers?
(b) To employees?

In Its 2018 Annual Report to Shareholders, Kinney Inc