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What is the purchase amount

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Question 1: Smith Company had an inventory balance of $13,000 on January 1 and $16,000 on December 31. The cost of goods sold during the period was $60,000. What's the purchase amount?

Option A. $62,000

Option B. $44,000

Option C. $31,000

Option D. $63,000

Reference no: EM132487338

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