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mastering inventory 1. BaCo opens its business in 20X2 and purchases merchandise on account for $88,000. In 20X2, BaCo pays $67,000 cash on the $88,000

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1. BaCo opens its business in 20X2 and purchases merchandise on account for $88,000. In 20X2, BaCo pays $67,000 cash on the $88,000 due, sales are $145,000, and ending inventory is $24,000. BaCo's gross profit for 20X2 is... a. $102,000 b. $81,000 c. $78,000 d. $57,000

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