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6. Obsolete inventory carried on the books at a cost of $40,000 is scrapped and written off as a loss. (Round your answers to 2

6. Obsolete inventory carried on the books at a cost of $40,000 is scrapped and written off as a loss. (Round your answers to 2 decimal places.) Effect Margin Turnover ROI 7. The company uses $200,000 of cash (received on accounts receivable) to repurchase and retire some of its common stock. (Round your answers to decimal places.) Effect Margin Turnover

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