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9. Sam Inc. had the following account balances at the end of the current accounting period: Beginning inventory $53,500 Net purchases 75,500 Net sales revenue

9. Sam Inc. had the following account balances at the end of the current accounting period: Beginning inventory $53,500 Net purchases 75,500 Net sales revenue 93,700 A normal gross profit percent is 30%. What is the estimated ending inventory as per the gross profit method?

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