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Inferring Transactions from Financial Statements Lowe's is the second-largest home improvement retailer in the world, with 1,857 stores. During its 2015 fiscal year ended in

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Inferring Transactions from Financial Statements Lowe's is the second-largest home improvement retailer in the world, with 1,857 stores. During its 2015 fiscal year ended in January 2016 , Lowe's puichused merchandise inventory at a cost of $39.129 ( $ millions). Assume all purchases were made on account and accounts payable is only used for inventory purchast The following T-accounts reflect information contained in the company's 2014 and 2015 balance sheets. b. What amount did Lowe's pay in cash to its suppliers during fiscal-year 2015? million c. Use the financial statement effects template to record cost of sales for 2015. Use a negative sign with answers if appropriate

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