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PLEASE READ CAREFULLY! The accounting records of Seattle Outlet include the following for January: A physical count determined the cost of inventory on hand at

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The accounting records of Seattle Outlet include the following for January: A physical count determined the cost of inventory on hand at January 31 to be $21,000. If gross profit amounts to 20% of net sales, compute the beginning inventory at January 1. Select one: a. $23,000 b. $22,500 c. $11,000 d. $21,000 e. $9,000

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