Cash Payments—Direct Method

Lester Enterprises' comparative balance sheets included inventory of $90,200 at December 31, 2013, and $70,600 at December 31, 2014. Lester's comparative balance sheets also included accounts payable of $64,500 at December 31, 2013, and $41,700 at December 31, 2014. Lester's accounts payable balances are composed solely of amounts due to suppliers for purchases of inventory on account. Cost of goods sold, as reported by Lester on its 2014 income statement, amounted to $770,900.

What is the amount of cash payments for inventory that Lester will report in the Operating Activities section of its 2014 statement of cash flows assuming that the direct method is used?

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