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The Cubby Bear uses the periodic inventory system. On October 1, the food inventory was $3,000. During October, food purchases totaled $8,000 and free employee
The Cubby Bear uses the periodic inventory system. On October 1, the food inventory was $3,000. During October, food purchases totaled $8,000 and free employee meals were $300. The cost of sales for the month equaled $3,500. What is the ending inventory on October 31?
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