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The following information relates to the income statement of Valley Company for last year: Purchases = $180,000; sales = $240,000; cost of goods sold =
The following information relates to the income statement of Valley Company for last year: Purchases = $180,000; sales = $240,000; cost of goods sold = $210,000; ending inventory = $30,000. What is the beginning inventory balance?
A.$6,000
B.$60,000
C.$50,000
D.$55,000
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