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What was the amount of purchases

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Question - At the end of 2016, a company reported cost of goods sold of $4,800, which represented 80% of the goods available for sale. The beginning inventory amount was twice as much as the ending inventory amount. What was the amount of purchases for 2016?

A) $1,200

B) $2,400

C) $3,600

D) $5,400

Reference no: EM132682000

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