(Solution) - Ciao Corporation had January 1 and December 31 balances as -(2025 Original AI-Free Solution)

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Ciao Corporation had January 1 and December 31 balances as follows:
1/1/14 ............... 12/31/14
Inventory .........................$90,000................$113,000
Accounts payable .................61,000...................69,000
For 2014, the cost of goods sold was $550,000. Calculate Ciao's 2014 cash paid to suppliers of inventory.