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Sunland Company had the following information at December 31: Finished goods inventory, January 1 Finished goods inventory, December 31 $ 20000 170000 If the

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Sunland Company had the following information at December 31: Finished goods inventory, January 1 Finished goods inventory, December 31 $ 20000 170000 If the cost of goods manufactured during the year amounted to $2200000 and annual sales were $2750000, the amount of gross profit for the year is $700000. $2050000. $400000. $550000.

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