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4. Sanchez Company, home improvement retailer, reported cost of goods sold of $33,729 million for the fiscal year ended January 30, 2010. It reported merchandise
4. Sanchez Company, home improvement retailer, reported cost of goods sold of $33,729 million for the fiscal year ended January 30, 2010. It reported merchandise inventories of $9,611 million at the beginning of fiscal 2010 and $10,209 million at the end of fiscal 2010. It reported accounts payable to suppliers of $5,713 million at the beginning of fiscal 2010 and $6,109 million at the end of fiscal 2010. Compute the amount of cash paid to merchandise suppliers during fiscal 2010. (amounts in $millions) Cost of Goods Sold for 2010... Plus Inventory at End of 2010. Less Inventory at Beginning of 2010. Equals Purchases during 2010 ........ Plus Accounts Payable at Beginning of 2010.. Less Accounts Payable at End of 2010. Equals Cash Payments to Suppliers during 2010
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