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A retail company sells furniture and has 60 tables in inventory valued $6,000 in total. During the year they purchased 500 tables for $100 each
A retail company sells furniture and has 60 tables in inventory valued $6,000 in total. During the year they purchased 500 tables for $100 each and sold half of their tables inventory to customers for $220 each. They did not have any additional transactions related to inventory during the year.
What was the company's gross profit for the year?
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