The following information is available for the Brown Company for 2006: Gross Profit $50,000 Net Sales $450,000 Beginning Inventory $210,000 Ending Inventory $80,000 What was the amount of net purchases? a. $290,000 b. $210,000 c. $270,000 d. $130,000

The following information is available for the Brown Company for 2006: Gross Profit $50,000 Net Sales $450,000 Beginning Inventory $210,000 Ending Inventory $80,000 What was the amount of net purchases? a. $290,000 b. $210,000 c. $270,000 d. $130,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

The following information is available for the Brown Company for 2006:

Gross Profit $50,000

Net Sales $450,000

Beginning Inventory $210,000

Ending Inventory $80,000

What was the amount of net purchases?

a. $290,000

b. $210,000

c. $270,000

d. $130,000

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