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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

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 purchased merchandise inventory at a cost of $39,273 ($ millions). Assume all purchases were made on account and accounts payable is only used for inventory purchases. The following T-accounts reflect information contained in the company's 2014 and 2015 balance sheets.

Merchandise Inventories
2014 Bal. 8,977
2015 Bal. 9,392
Accounts Payable
5,058 2014 Bal.
5,699

2015 Bal.

b. What amount did Lowe's pay in cash to its suppliers during fiscal-year 2015?

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