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Can you explain step by step formula and solution. During 2022, the inventory of Mollie's Gift Shop decreased by 30000. If the income statement for

Can you explain step by step formula and solution.

During 2022, the inventory of Mollie's Gift Shop decreased by 30000. If the income statement for the year 2022 reported a cost of goods sold of 320000 , purchases during the year must have amounted to Answer: 290000

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