10. Sunshine Beach Company sells skimboards. The following information was derived from its balance sheet and income statement:

    • It started the accounting period with inventory of $75000 and ended the accounting

      period with inventory of $60 000.

    • It started the accounting period with accounts payable of $20000 and ended the

      accounting period with accounts payable of $25 000.

    • Cost of goods sold for the accounting period was $275 000.

      All purchases are made on credit terms, and the company uses the perpetual system of inventory management and adopts the first-in, first-out (FIFO) inventory cost flow assumption. There were no inventory losses during the accounting period.

      The accounts payable account only includes amounts payable to suppliers of inventory. You are required to determine how much cash was paid to the suppliers of inventory.