Ciao Corporation had January 1 and December 31 balances as follows: For 2017, the cost of goods

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Ciao Corporation had January 1 and December 31 balances as follows:

Inventory Accounts payable 1/1/17 $90,000 61,000 12/31/17 $113,000 69,000

For 2017, the cost of goods sold was $550,000. Calculate Ciao's 2017 cash paid to suppliers of inventory.

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Related Book For  answer-question

Intermediate Accounting

ISBN: 978-1119048541

11th Canadian edition Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

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