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The following information is from Wahoo Company's accounting records: Net Sales$275,000Beginning inventory$25,000Ending Inventory$18,000 Wahoo's gross profit rate is 20%. What were Wahoo's purchases?

The following information is from Wahoo Company's accounting records:

Net Sales$275,000Beginning inventory$25,000Ending Inventory$18,000

Wahoo's gross profit rate is 20%. What were Wahoo's purchases?

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