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Data for inventory, accounts payable (arising from inventory purchases), cash payments on account (to suppliers of inventory), and sales are given below: 1/1/19 12/31/19 2019

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Data for inventory, accounts payable (arising from inventory purchases), cash payments on account (to suppliers of inventory), and sales are given below: 1/1/19 12/31/19 2019 $ 52,000 44,000 $ 60,000 47,000 Inventory... Accounts payable Payments to suppliers. Sales $ 190,000 280,000 The gross profit (sales less cost of goods sold) during the year ended December 31, 2019, amounted to: A) $ 90,000 B) $ 95,000 C) $ 98,000 D) $101,000 E) $111,000

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