Here are data for Badger Company for the month of June:
Sales $158,000
Cost of goods sold $109,000
Inventory Decreased $15,600
Accounts payable Increased $6,100
What amount of cash payments did Badger make to its suppliers of inventory during June?
Answer------------$87,300
Working
Cash payments for merchandise | |
Cost of goods sold | $ 109,000.00 |
Less: Decrease in Inventory | $ (15,600.00) |
Net purchases | $ 93,400.00 |
Less: Increase in Accounts payable | $ (6,100.00) |
Cash payments for merchandise | $ 87,300.00 |
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