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The amount owing to suppliers for inventory purchases at the beginning of the year is $118 000 and at the end of the year is
The amount owing to suppliers for inventory purchases at the beginning of the year is $118 000 and at the end of the year is $94 000. If total credit purchases of inventory for the year are $160 000, the cash paid to suppliers of inventory for the year is:
$184 000
$66 000
$278 000
$254 000
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