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How much cash was paid for inventory during the year

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Question

Cold and Flu Corp. reported the following information for 2018 and 2019. Inventory is not reported as there was no change in inventory from 30 June 2018 to 30 June 2019.

Accounts Payable, 30 June 2018 95,000

Accounts payable, 30 June 2019 50,000

Cost of goods sold in 2018/19 financial year 560,000

How much cash was paid for inventory during the 2018/19 financial year?

Reference no: EM132345676

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