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Test Company reported cost of goods manufactured of $330,000 and cost of goods sold of $320,000 for July. Finished goods inventory on July 31 was

Test Company reported cost of goods manufactured of $330,000 and cost of goods sold of $320,000 for July. Finished goods inventory on July 31 was $25,000.

Determine finished goods inventory on July 1.

Note: Give your answer using dollar signs and commas but not decimal points (cents).

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