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During its first month of business, Purses, Inc., purchased 5 purse(s) at $50 each and sold 1 purses for $80 each. Purses' Inventory balance on

During its first month of business, Purses, Inc., purchased 5 purse(s) at $50 each and sold 1 purses for $80 each. Purses' Inventory balance on the balance sheet at the end of the month equals $_

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