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Beginning inventory is $ 1 2 0 , 0 0 0 , purchases are $ 2 9 0 , 0 0 0 and sales total

Beginning inventory is $

120, 000,

purchases are $

290, 000

and sales total $

470, 000 .

The normal gross profit is

25 % .

Using the gross profit method, how

much is ending inventory?

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