The company reported cost of goods sold of $75 million with beginning inventory of $8 million and ending inventory of $9 million. Accounts payable began at $5 million and ended at $3 million. Based on this information, the amount of cash paid to suppliers is $72 million.

1. A company reports cost of roods sold of $75 milion. Imventory at the beginning and end of the
year is $8 million and $9 million, respectively. Accounts payable at the beginning and end of the
year are $5 million and $3 million, respectively. What is the amount of cash paid to suppliers?
$78 million $76 million $75 million $72 million None of the above. $80 million