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A company loses its opening financial records in a fire. During the following year, it incurred costs of production of $250,000 and sold $300,000 in

A company loses its opening financial records in a fire. During the following year, it incurred costs of production of $250,000 and sold $300,000 in merchandise. It took an inventory count and found that it had $100,000 of product on hand. What should the companys opening inventory show beforethefire?

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