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The following items are for Otis Day Co.: Revenues = $10 million Beginning Inventories = $5 million Gross Profit = $4 million Ending Inventories =
The following items are for Otis Day Co.:
Revenues = $10 million
Beginning Inventories = $5 million
Gross Profit = $4 million
Ending Inventories = $7 million
SG&A = $3 million
Calculate the amount of inventories that were purchased during the year:
$ 2 million
$6 million
$8 million
$12 million
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