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please help Greg Company started the year with inventory of $50,000 and ended the year with $80,000 of inventory. If Greg had net purchases of
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Greg Company started the year with inventory of $50,000 and ended the year with $80,000 of inventory. If Greg had net purchases of $280,000 for the year, what was the cost of goods sold? Markus Company started the year with $75,000 of inventory and purchased $300,000 of merchandise during the year. If the cost of goods sold was $325,000, what was Markus's ending inventory? Ray Company had $800,000 of sales during the year and had selling expenses of $100,000 and general administrative expenses of $150,000. Also, Ray started the year with $70,000 of inventory and ending the year with $90,000 of inventory. Rays net purchases for the year were $350,000. What is Rays gross profit and net income for the year Step by Step Solution
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