Question

Pier 1 Imports reported cost of sales of $962 million for fiscal 2012. Inventory increased during the year from $322 million to $356 million, and accounts payable (related to inventory purchases) decreased from $64 million to $59 million.
a. Estimate the cost of inventories purchased during 2012.
b. Estimate the cash payments made to inventory suppliers during 2012.



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  • CreatedAugust 19, 2014
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