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Pine Books Company sells 1,000,000 hardcover books a day at an average price of $30. It purchases these books for 75% of the selling price.

Pine Books Company sells 1,000,000 hardcover books a day at an average price of $30. It purchases these books for 75% of the selling price. The company has no beginning inventory, but it wants to have a three-day supply of ending inventory. Assume that operating expenses are $1,000,000 per day. Calculate the value of ending inventory to be maintained by the company

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