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3,operating income? 4,income tax expense? 5,gross profit ratio? Use the following to answer the questions Net Sales $750,000 Gross profit $310,000 Beginning inventory $12,000 Purchases

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3,operating income? 4,income tax expense? 5,gross profit ratio?

Use the following to answer the questions Net Sales $750,000 Gross profit $310,000 Beginning inventory $12,000 Purchases $444,000 [Choose 24% $92,400 $12,000 $65,100 $19,950 $157,500 41% $306,000 $535,000 $95,000 $298,000 $229,000 $322,000 $16,000 $456,000 13% 70% $440,000 Operating expense $215,000 Average tax rate 21% Cost of goods sold: [ Choose ] Ending inventory: [ Choose]

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