Cast Iron Cooking Inc. had a beginning inventory balance at January 1, 2020, of $25,000 and an ending inventory balance at December 31, 2020, of $78,000. Cost of goods sold for the year was $110,000. Accounts payable decreased during the year from an opening balance at January 1, 2020, of $45,000 to an ending balance at December 31, 2020, of $17,000.

Required:

The total inventory purchases during 2020 were $Answer__________

The total cash payments for inventory during 2020 were $Answer_________