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Columbia Sportswear Company reported cost of goods sold of U.S. $1,416 million on its 2018 statement of income. It also reported an increase in inventory
Columbia Sportswear Company reported cost of goods sold of U.S. $1,416 million on its 2018 statement of income. It also reported an increase in inventory of U.S. $64 million and an increase in accounts payable of U.S. $22 million. What amount of cash was paid to suppliers, assuming that the company uses a perpetual inventory system and that accounts payable relate to inventory purchases?
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