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A particular gym maintains a gross margin of 55% on all its weight training products. In April, the gym had a beginning inventory of $142,000,
A particular gym maintains a gross margin of 55% on all its weight training products. In April, the gym had a beginning inventory of $142,000, net purchases of $202,000, and net sales of $431,000. Use the gross profit method to estimate the cost (in $) of ending inventory?
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