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The Cyprus Company recently lost its entire inventory in a fire. The accounting records reflect the following information: Beginning Inventory Net Purchases Net Sales Gross

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The Cyprus Company recently lost its entire inventory in a fire. The accounting records reflect the following information: Beginning Inventory Net Purchases Net Sales Gross Profit Rate S35,000 $220,400 $378,800 40% Using the gross profit method, estimated inventory is OA. $28,120 B. $35,000 O C. $102,160 O D. Cannot be determined with given information

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