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Assume a manufacturing company had a beginning balance in Accounts Payable of $5,000, and an...

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Accounting

Assume a manufacturing company had a beginning balance in Accounts Payable of $5,000, and an Ending Balance of $7,000. The Accounts Payable account only includes inventory-related transactions and all purchases are made on credit. Cost of Goods Sold during the years was $65,000, and purchases of inventory were $52,000. Calculate the amount the company paid to its inventory suppliers during the period.

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