Chapter 15, Problem 5SC

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What is the purchaser's net Cost of the merchandise?

Accurate answer

The Larsen Company's cost of goods manufactured was $145,000 when its sales were $395,000 and its gross margin was $250,000. If the ending inventory of finished goods was $40,000, the beginning inventory of finished goods must have been __.

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Can you help me solve this general accounting question using valid accounting techniques?