Multiple Choice
In its first year of operations as a retailer, Riley Ltd. reported a gross profit of $181,500, total purchases of $225,000, and an ending inventory of $90,000. Therefore, Riley's sales in its first year must have been
A) $91,500.
B) $135,000.
C) $315,000.
D) $316,500.
Correct Answer:
Verified
Correct Answer:
Verified
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