During the year, Marigold Corp reported an increase in Merchandise Inventory of $25,000. Cost of goods sold for the year was $150,000, and there was an $8,000 decrease in Accounts Payable. What were the cash payments to suppliers during the year?

Question

Quizplus · Accepted Answer

The cash payments to suppliers can be calculated as: Cost of Goods Sold ($150,000) + Increase in Inventory ($25,000) - Decrease in Accounts Payable ($8,000) = $183,000.

During the Year, Marigold Corp Reported an Increase in Merchandise