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What was the amount of purchases

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Question - For the year ended December 31, 2016, Complex Company reported gross margin of $29,700, which was 30% of the sales for the period. The cost of goods available for sale was 120% of the cost of goods sold. The beginning inventory was twice as much as the ending inventory. What was the amount of purchases for 2016?

A) $13,860

B) $29,700

C) $41,580

D) $55,440

Reference no: EM132681953

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