Question
Cash Paid for Merchandise Purchases The cost of merchandise sold for Patterson Corporation for a recent year was $12,739 million. The balance sheet showed the
Cash Paid for Merchandise Purchases
The cost of merchandise sold for Patterson Corporation for a recent year was $12,739 million. The balance sheet showed the following current account balances (in millions):
| Balance, End of Year | Balance, Beginning of Year | |||
| Merchandise inventories | $3,338 | $2,879 | ||
| Accounts payable | 1,197 | 1,070 | ||
Determine the amount of cash payments for merchandise. $ million
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Modern Internal Auditing Appraising Operations And Controls
Authors: Victor Z. Brink, Herbert N. Witt
4th Edition
0471080977, 978-0471080978
