Wiley Question of the Week (Sponsored)
The following is a paid post sponsored by Wiley
Use the following information regarding Luxury Interiors to answer the next 2 questions:
- Revenue = $85 million
- Cost of goods sold = $44 million
- Decrease in inventory = $7 million
- Increase in accounts payable = $4 million
- Decrease in accounts receivable = $5 million
Cash paid to suppliers is closest to:
A. $37 million.
B. $47 million.
C. $33 million.
Cash received from customers is closest to:
A. $90 million.
B. $80 million.
C. $73 million.
Video Explanation and Answers