Answer: $351,000
Explanation:
Given that,
Cost of inventory = $350,000
Selling price = $675,000
Beginning balance of inventory = $86,000
Beginning balance of accounts payable = $116,000
ending balance of inventory = $94,000
ending balance of accounts payable = $123,000
Cash paid to suppliers:
= Cost of Goods Sold + Change in inventory - Change in accounts payable
= 350,000 + (94,000-86,000) - (123,000-116,000)
= 350,000 + 8,000 - 7,000
= $351,000
