Use the Following to Answer Questions

question 84

Essay

Use the following to answer questions
In its 2015 Annual Report to Shareholders,Kinney Inc.reported the following Consolidated Statement of Cash Flows:
For the years ended December 31,

-Kinney reported cost of goods sold of $168,114,150 in its fiscal 2015 income statement.Assuming that Kinney uses accounts payable strictly for inventory purchases and that all such purchases are on credit,how much cash did Kinney pay during the year for inventories:
(a)To inventory suppliers?
(b)To employees?

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Definitions:

Style Guidelines

A set of standards and rules to ensure consistency and quality in the design, branding, or presentation of materials and products.

Mass Customization

A strategy that allows for the production of goods and services to meet individual customer needs with near mass production efficiency.

Additional Features

Extra functions or services included with a product or service that provide additional value or convenience to the customer.

Build-To-Order

A manufacturing process where products are created only after receiving a customer's order, allowing for customization.