During year-end cash flow preparation, the controller at Ori…
During year-end cash flow preparation, the controller at Orion Manufacturing Ltd. is reconciling cost of goods sold to the amount of cash paid to suppliers. The company reported cost of goods sold of $310,000. Over the same period, inventory increased by $14,000, and accounts payable decreased by $9,000. In reviewing the draft, the CFO asks whether the company paid more or less cash to suppliers than the amount reported as cost of goods sold. What amount of cash did Orion Manufacturing Ltd. pay to suppliers during the year?
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