Colie Company Had an Increase in Inventory of $120,000

question 76

Multiple Choice

Colie Company had an increase in inventory of $120,000.The cost of goods sold was $560,000.There was a $30,000 decrease in accounts payable from the prior period.Using the direct method of reporting cash flows from operating activities, what were Colie's cash payments to suppliers?

• A)$710,000.
• B)$650,000.
• C)$440,000.
• D)$380,000.

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Definitions:

High Quality

A degree of excellence or superiority in condition or performance; often associated with the level of fulfillment of certain standards or specifications.

Satisfaction

The feeling of contentment or fulfillment that comes from meeting one's expectations or desires.

External Customers

Individuals or entities outside an organization who purchase the company's products or services.

Goods Or Services

Tangible products (goods) and intangible offerings (services) that fulfill the needs or desires of consumers.