Cost of goods sold for Snowmass Construction Company during 20X1 was $410,000. Beginning inventory was $95,000 and ending inventory was $120,000. Beginning trade accounts payable were $24,000, and ending trade accounts payable were $51,000. What amount of cash did Snowmass pay to suppliers?© BrainMass Inc. brainmass.com June 4, 2020, 12:10 am ad1c9bdddf
First, we compute the amount of purchases using the standard cost of goods sold calculation:
Beginning Inventory $95,000
Add Purchases ?
The solution carefully explains the terms and shows the formulas and computations to arrive at the amount of cash paid to suppliers.