Cost Retail Celebrity Tan Co. Inventory, August 1 Transactions during August: Purchases (net) $ 300,000 $ 575,000 2,021,900 3,170,000 Sales 3,250,000 Ranchworks Co. $ 880,000 Inventory, March 1 Transactions during March through November: Purchases (net) 9,500,000 Sales 15,800,000 Estimated gross profit rate 38%

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