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Patel Brothers Corporation, is a specialty retailer that operates stores selling clothes under various trade names. Assume that you are employed as a stock analyst
Patel Brothers Corporation, is a specialty retailer that operates stores selling clothes under various trade names. Assume that you are employed as a stock analyst and your boss has just completed a review of Patel Brothers Corporation, for the first quarter of She provided you with her notes, but they are missing some information that you need. Her notes show the inventory for Brothers was $ million at the end of the quarter and $ million at the beginning of the quarter. Net Sales for the quarter were $ million. Gross Profit was $ million and Net Income was $ million.
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Determine the Cost of Goods Sold and cost of purchases for the first quarter.
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