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25 May, 14:58

Grand Rapids Rafting Company recorded the following data for the month of October:Cost of beginning inventory $46,000Cost of ending inventory $32,000Cost of goods sold $122,000Inventory purchases for the month of October total:A) $108,000 B) $136,000 C) $200,000 D) $44,000

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  1. 25 May, 16:09
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    Answer: Option (A) is correct.

    Explanation:

    Given that,

    Data for the month of October:

    Cost of beginning inventory = $46,000

    Cost of ending inventory = $32,000

    Cost of goods sold = $122,000

    Inventory purchases in October:

    = Cost of goods sold + Cost of ending inventory - Cost of beginning inventory

    = $122,000 + $32,000 - $46,000

    = $108,000
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