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Use the information provided below to calculate the cost of sales: Opening inventory 660 000 Purchases 740 000 Purchases returns 89 000 Settlement discount received

Use the information provided below to calculate the cost of sales:

Opening inventory 660 000

Purchases 740 000

Purchases returns 89 000

Settlement discount received 95 000

Import duties 42 000

Settlement discount granted 53 000

Closing inventory 730 000

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