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Assume that a company has a beginning inventory of $70,000 and purchases of $220,000, both at cost. Sales at selling price amounts to $350,000. The

Assume that a company has a beginning inventory of $70,000 and purchases of $220,000, both at cost. Sales at selling price amounts to $350,000. The gross profit on the selling price is 40%. What is the estimated inventory? Please enter your answer as a dollar amount. Ex: $10,000 Question 35 options:

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