Exam $2($Chapters $6-9)($i$)$

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Broad, Incorporated had a beginning inventory of $$50,000$ and an ending inventory of $$80,000.$ Its cost of goods sold for the year was $$970,000.$ What was the amount of purchases that it made for the year?

Multiple Choice

$$1,000,000$

$$940,000$

$$1,060,000$

$$1,050,000$