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What entity provided the following data for nine months

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Reference no: EM132788549

On September 30, Brock Company reported that a fire caused severe damage to the entire inventory. The entity had a gross profit of 30% on cost.

The entity provided the following data for nine months ended September 30:

Inventory at January 1

1,100,000

Net purchases

6,000,000

Net sales

7,280,000

On September 30, Brock Company reported that a fire caused severe damage to the entire inventory. The entity had a gross profit of 30% on cost.

Problem 1: The entity provided the following data for nine months ended September 30:

 

Reference no: EM132788549

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