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A company provided the following data: sales, $150,000; sales returns, $8,000; ending inventory, $40,000; net purchases of inventory, $85,000; and gross profit, $37,000. What was

A company provided the following data:

sales, $150,000; sales returns, $8,000; ending inventory, $40,000; net purchases of inventory, $85,000; and gross profit, $37,000.

What was the amount of beginning inventory?

Group of answer choices

A: $70,000

B: $78,000

C: $68,000

D: $60,000

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