Pier 1 Imports reported cost of sales of $1.1 billion for fiscal 2019. Inventory increased during the
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Pier 1 Imports reported cost of sales of $1.1 billion for fiscal 2019. Inventory increased during the year from $347.4 million to $347.6 million, and accounts payable (related to inventory purchases) increased from $71.3 million to $122.0 million.
a. Estimate the cost of inventories purchased during 2019.
b. Estimate the cash payments made to inventory suppliers during 2019.
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a To estimate the cost of inventories purchased during 2019 we can use t...View the full answer
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