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Robertson Corporation's Inventory Balance Was $22,000 at the Beginning of the Year

Question 75

Multiple Choice

Robertson Corporation's inventory balance was $22,000 at the beginning of the year and $20,000 at the end. The inventory turnover ratio for the year was 6.0 and the gross profit ratio 40%. What were net sales for the year?


A) $126,000.
B) $200,000.
C) $120,000.
D) $210,000.

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