Lowes Companies, a retailer of home improvement products, reported cost of goods sold of $31,729 million for

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Lowe’s Companies, a retailer of home improvement products, reported cost of goods sold of $31,729 million for the fiscal year ended January 30, 2009. It reported merchandise inventories of $7,611 million at the beginning of fiscal 2009 and $8,209 million at the end of fiscal 2009. It reported accounts payable to suppliers of $3,713 million at the beginning of fiscal 2009 and $4,109 million at the end of fiscal 2009. Compute the amount of cash paid to merchandise suppliers during fiscal 2009.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
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