How much cash did Rivera pay in 2020 for merchandise purchases?

Required information Rivera Corporation, a merchandising company, started business on January 2, 2020. All of Rivera's sales are made on credit and sales each month are the same amount. All Rivera's customers take the same number of days to pay their bills. The firm sells to creditworthy customers and so has no bad debt expense. Selected account balances from the rm's December 31, 2020 balance sheet are shown below: Accounts Receivable $500,000 Inventory $360,000 Accounts Payable, Trade $560,000 Using the formulas presented below, the controller calculated the age of accounts receivable, inventory and accounts payable, trade as shown below: 360/(sales/((average accounts receivable)/2)) 360/(cost of goods sold/((average inventory)/2)) 360/(purchases/((average accounts payable, trade)/2)) Days sales outstanding in Accounts Receivable Days sales outstanding in Inventory Days purchases outstanding in Accounts Payable, Trade g 60 70 \\ How much cash did Rivera pay in 2020 for merchandise purchases