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Passive Action had sales of $360,000 during the current period and a gross profit rate of 40%. The company's cost of goods available for sale

Passive Action had sales of $360,000 during the current period and a gross profit rate of 40%. The company's cost of goods available for sale during during the period was $324,000. The company's ending inventory must have been: a. $36,000 b. $108,000 c. $129,600 d. $194,400 e. None of the above

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