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b) Calculate the ovs marks) information salvaged: ( 4 marks) (1) Inventory, January 1: $28,000 (2) Purchases: $16,000 (3) Transportation-in: $1,000 (4) Sales: $55,000 (5)

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b) Calculate the ovs marks) information salvaged: ( 4 marks) (1) Inventory, January 1: $28,000 (2) Purchases: $16,000 (3) Transportation-in: $1,000 (4) Sales: $55,000 (5) Sales returns: $700 Marlee's average gross profit was 35%. Calculate the estimated value of the lost inventon

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