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Question 4 A company provided the following data: sales, $500, 000; beginning inventory, $ 40,000; ending inventory, $45,000, and gross profit, $150,000, What was the amount of inventory purchased during the year? $345,000. $385,000 $355,000 $145,000.

Question 4 A company provided the following data: sales, $500, 000; beginning inventory, $ 40,000; ending inventory, $45,000, and gross profit, $150,000, What was the amount of inventory purchased during the year? $345,000. $385,000 $355,000 $145,000.

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter5: Inventories And Cost Of Goods Sold
Section: Chapter Questions
Problem 5.26MCE
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Question 4 A company provided the following data: sales, $500, 000; beginning inventory, $ 40,000; ending inventory, $45,000, and gross profit, $150,000, What was the amount of inventory purchased during the year? $345,000.

$385,000

$355,000

$145,000. 

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