GSW Corp. purchases its inventory from suppliers on account. During the year, its Inventory account decreased by $40 million and its accounts payable to suppliers increased by $10 million.  If cost of goods sold was $650 million, GSW's cash outflows to inventory suppliers totaled:   Select one: a. $700 million b. $600 million c. $650 million d. $620 million e. $680 million

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
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GSW Corp. purchases its inventory from suppliers on account. During the year, its Inventory account decreased by $40 million and its accounts payable to suppliers increased by $10 million. 

If cost of goods sold was $650 million, GSW's cash outflows to inventory suppliers totaled:


 

Select one:
a. $700 million
b. $600 million
c. $650 million
d. $620 million
e. $680 million
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