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What was the amount of the ending inventory

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Question - For 2020, cost of goods available for sale for Crane Corporation was $5600000. The gross profit rate on sales was 20%. Sales for the year were $5100000. What was the amount of the ending inventory?

a. $1120000.

b. $1520000.

c. $1020000.

d. $0.

Reference no: EM132754855

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