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TKO Inc. reported these figures for its fiscal year (amounts in millions): Net sales $ 1.800 Cost of goods sold 1,160 Ending inventory 380 Suppose

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TKO Inc. reported these figures for its fiscal year (amounts in millions): Net sales $ 1.800 Cost of goods sold 1,160 Ending inventory 380 Suppose TKO later learns that ending inventory was overstated by $5 million. What are the correct amounts for (a) net sales, (b) ending inventory. (c) cost of goods sold, and (d) gross profit? (a) Net sales would be $ milion (b) Ending inventory would be milion (c) Cost of goods sold would be $ million. (d) Gross profit would be s million

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