Solution-What amount of cash did Giant pay to its suppliers

What amount of cash did Giant pay to its suppliers

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Question - Giant is a national grocery chain. During 2021, the company purchased $3,551,723 of inventory, all on account. The following accounts re?ect information contained in the company's 2021 and 2020 balance sheets.

Selected Balance Sheet Data in thousands	June 31, 2021	June 31, 2020
Inventories	$172,481	$160,987
Accounts payable	110,685	115,492

During its year ending June 31, 2021, Giant recorded cost of goods sold for the year ended June 31, 2021 of $3,540,229.

What amount of cash did Giant pay to its suppliers during its year ending June 31, 2021? Note: your answer should be formatted as a whole number without currency symbols or punctuation.

Reference no: EM132592751

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What amount of cash did Giant pay to its suppliers

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Reference no: EM132592751

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