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The following information relates to ABC Company for the month of January 2001 Merchandise purchased for resale =$500,000 Interest on notes payable to supplier of

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The following information relates to ABC Company for the month of January 2001 Merchandise purchased for resale =$500,000 Interest on notes payable to supplier of merchandise =$5,000 Freight in =$1,000 Purchase returns =$7,000 The inventorial cost for January 2001 should be

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