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Bertram, Inc. had beginning and ending accounts payable balances of $800 and $900, respectively. Inventory had beginning and ending balances of $900 and $850, respectively.
Bertram, Inc. had beginning and ending accounts payable balances of $800 and $900, respectively. Inventory had beginning and ending balances of $900 and $850, respectively. All inventory purchases are made on account. If cost of goods sold equaled $700, how much cash was spent to purchase inventory?
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