A company reports its cost of goods sold as 150 billionin

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a) A company reports its 2007 cost of goods sold at$15.0 million. Its ending inventory for 2007 is $1.6 millionand for 2006, ending inventory was $1.2 million. How muchinventory did the company purchase during 2006?

b) A company recorded net purchases of $15.7 million for2007. In 2006, ending accounts payable was $1.4 million and in2007, it was $1.9 million. How much cash was paid to suppliersin 2007?

c) A company reports its cost of goods sold as $15.0 billionin 2009. It has $2.9 billion in inventory and reports accountspayable at $1.2 billion in 2009. In 2008, ending inventory was reported at $3.1 billion and accounts payable was $1.4billion. How much cash was paid to suppliers for 2009?

d) Alexander Company reported net income in 2006 of $250,000and in 2007 of $285,000. Later it was discovered that theending inventory for 2006 was overstated by $15,000. Disregard income taxes. The correct amounts of net income for 2006 and 2007were

Reference no: EM13614781

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