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Company had the following information at December 31: Finished goods inventory, January 1 $ 90,000 Finished goods inventory, December 31 $120,000 If the cost of

Company had the following information at December 31:

Finished goods inventory, January 1 $ 90,000

Finished goods inventory, December 31 $120,000

If the cost of goods manufactured during the year amounted to $1,120,000 and annual sales were $2,609,000, how much is the amount of gross profit for the year? a.

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