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On July 1, the inventory of at Barnett Shoes was $48,000. Because of anticipated back-to-school sales, the owner wants to have an inventory of $83,000
On July 1, the inventory of at Barnett Shoes was $48,000. Because of anticipated back-to-school sales, the owner wants to have an inventory of $83,000 on hand at the beginning of August. Net sales during July are expected to total $84,000, with a gross profit rate of 22%. During July, the company should purchase merchandise costing
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