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Marizza181 [45]
2 years ago
12

Reyes Company had a gross profit of $720,000, total purchases of $840,000, and an ending inventory of $480,000 in its first year

of operations as a retailer. Reyes's sales in its first year must have been:a. $1,080,000.b. $1,320,000.c. $360,000.d. $1,200,000.
Business
1 answer:
notsponge [240]2 years ago
4 0

Answer:

The correct answer is A: $1,080,000

Explanation:

Giving the following information:

Reyes Company had a gross profit of $720,000, total purchases of $840,000, and an ending inventory of $480,000 in its first year of operations as a retailer.

Assuming there was any beginning inventory:

Sales= gross profit + (purchase - ending inventory)

Sales= 720,000 + (840,000 - 480,000)= $1,080,000

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F_{5} = 14000 + 0.4 (740)

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F_{5} = 14296

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