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QUESTION 1 Lolita Company has the following information: Beginning Inventory $160,000 Net Purchases $360,000 Net Sales $760,000 Gross Profit Percentage 40% Lolita Company's estimated ending

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QUESTION 1 Lolita Company has the following information: Beginning Inventory $160,000 Net Purchases $360,000 Net Sales $760,000 Gross Profit Percentage 40% Lolita Company's estimated ending inventory is: (Round your final answer to the nearest $520,000. $64,000 $456,000. $216,000

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