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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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