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a . The inventory at January 1 , 2 0 2 2 , had a retail value of $ 4 9 , 0 0 0

a. The inventory at January 1,2022, had a retail value of $49,000 and a cost of $34,380 based on the conventional retail method.
b. Transactions during 2022 were as follows:
\table[[,Cost,Retail],[Gross purchases,323,040,$530,000
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