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1. Selected account balances for a merchandising company are listed below. (The company uses the periodic inventory method.) Sales Revenue $ 90,000 Sales Returns and

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1. Selected account balances for a merchandising company are listed below. (The company uses the periodic inventory method.) Sales Revenue $ 90,000 Sales Returns and Allowances 4,000 Purchases 60,000 Inventory (beginning) ??? Inventory (ending) 13,000 Purchase Returns and Allowances 2,000 Transportation in 3,000 Transportation out 1,000 Sales Discounts 6,000 Purchase Discounts 5,000 Gross Prot 21,000 Determine the company's beginning inventory. A. $15,000 B. $16,000 c. $18,000 D. $19,000 E. $22,000

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