Cash Paid for Merchandise Purchases The cost of merchandise sold for Patterson Corporation for a recent year was $11,105 million. The balance sheet showed the following current account balances (in millions): Balance, End of Year Balance, Beginning of Year Merchandise inventories $2,910 $2,510 Accounts payable 1,044 933 Determine the amount of cash payments for merchandise.

One of the growers is excited by this advancement because now he can sell more crops, which he believes will increase revenue in this market. as an economics student, you can use elasticities to determine whether this change in price will lead to an increase or decrease in total revenue in this market. using the midpoint method, the price elasticity of demand for soybeans between the prices of $5 and $4 per bushel is , which means demand is between these two points. therefore, you would tell the grower that his claim is because total revenue will as a result of the technological advancement.