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What inventory account would be expected to have a balance

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Problem 1: Assume Concord Corporation uses the periodic inventory system and has a beginning inventory balance of $6600, purchases of $72000, and sales of $138000. Concord closes its records once a year on December 31. In the accounting records, the inventory account would be expected to have a balance on December 31 prior to adjusting and closing entries that was

Reference no: EM132946575

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