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Required information At the end of last year, Games-2-Use had merchandise costing $340,000 in inventory. During January of the current year the company purchased merchandise
Required information At the end of last year, Games-2-Use had merchandise costing $340,000 in inventory. During January of the current year the company purchased merchandise costing $266,000, and sold merchandise that it had purchased at a total cost of $223,000. Games-2-Use uses a perpetual inventory system The balance in the Inventory account at January 31 was
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