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13.) Calculate the value of Ending Inventory based on the following information: Beginning Inventory = $700 Purchases = $300 Cost of sales = $800 14.)

13.) Calculate the value of Ending Inventory based on the following information: Beginning Inventory = $700 Purchases = $300 Cost of sales = $800

14.) Based on your answer to the previous question, what is the gross profit and gross profit margin if the sales are $1000?

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