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January 1 - You have a beginning balance in inventory of $ 1 0 0 , 0 0 0 ( 1 0 items ) .
January You have a beginning balance in inventory of $ items During the year you purchase an additional items for $ each with terms of down and the balance due next year. You sell items during the year for $ each. Customers paid you at the time of purchase and the remaining balance will be paid next year. Using FIFO, prepare the journal entries and accounts related to these transactions.
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