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What is the amount of gross purchases

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Reference no: EM132822637

ABC Company provided the following information for the current year:

Beginning inventory 400,000

Freight in 300,000

Purchase Returns 900,000

Ending Inventory 500,000

Selling Expenses 1,250,000

Sales Discount 250,000

Problem 1: The cost of goods sold is six times the selling expenses. What is the amount of gross purchases?

Reference no: EM132822637

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