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Birdman Co. reported the following data at year-end. Sales, $200,000; beginning inventory, $10,000; ending inventory, $8,000; cost of goods sold, $120,000; and gross margin, $80,000.

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Birdman Co. reported the following data at year-end. Sales, $200,000; beginning inventory, $10,000; ending inventory, $8,000; cost of goods sold, $120,000; and gross margin, $80,000. What was the amount of merchandise purchased during the year? a. $128,000 b. $118,000 c. $ 42,000 d. $ 38,000 e. None of the above

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