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Palamino Corporation had beginning inventory of $16,000 and ending inventory of $23,000. Its net sales were $184,000 and net purchases were $90,000. Palamino's gross profit

Palamino Corporation had beginning inventory of $16,000 and ending inventory of $23,000. Its net sales were $184,000 and net purchases were $90,000.

Palamino's gross profit for the period is

o A. $101,000.

o B. $184,000.

o C. $94,000.

o D. $87,000.

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