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The following information is collected from the financial records of Binder, Inc. Initial Inventory 85,000 Net purchase 295,000 Net Sales 625,000 Gross Profit 45% 1.

The following information is collected from the financial records of Binder, Inc.

Initial Inventory

85,000

Net purchase

295,000
Net Sales

625,000

Gross Profit

45%

1. Estimate the final inventory in the company using the "gross profit method".

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