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Robertson Corporation's inventory balance was $25,500 at the beginning of the year and $38,000 at the end. The inventory turnover ratio for the year was
Robertson Corporation's inventory balance was $25,500 at the beginning of the year and $38,000 at the end. The inventory turnover ratio for the year was 5.8 and the gross profit ratio 35%. What were net sales for the year? (Round your answer to the nearest dollar amount.) |
$184,150
$220,400
$283,308
$526,143
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