Determine amount of cash payments for merchandise


Response to the following problem:

The cost of merchandise sold for Toys"R"Us, Inc., for a recent year was $7,604 million. The balance sheet showed the following current account balances (in millions):

                                  End of Year Balance            Beginning of Year Balance

Merchandise inventories           $2,041                            $2,307

Accounts payable                     878                                 1,152

Determine the amount of cash payments for merchandise.

 

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Cost Accounting: Determine amount of cash payments for merchandise
Reference No:- TGS02132278

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