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The following information about Aragorn Corporation is available for the first quarter of 2020. Item Amount Beginning inventory $165,000 Net purchases $694,000 Net sales $658,000

The following information about Aragorn Corporation is available for the first quarter of 2020. Item Amount Beginning inventory $165,000 Net purchases $694,000 Net sales $658,000 Markup on cost 40% Using the gross profit method, the estimated ending inventory is $389,000 $464,200 $201,000 $595,800

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