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Dave's Duds reported cost of goods sold of $2,900,000 this year. The inventory account increased by $150,000 during the year to an ending balance of

Dave's Duds reported cost of goods sold of $2,900,000 this year. The inventory account increased by $150,000 during the year to an ending balance of $545,000. What was the cost of merchandise that Dave's purchased during the year?

$3,445,000.

$2,750,000.

$2,355,000.

$3,050,000.

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