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Business, 23.12.2019 18:31 Naysa150724

Lutex corporation began its accounting period with a merchandise inventory (beginning inventory) that cost $10,000. during the period, it purchased for resale merchandise with a retail value of $100,000. with purchase discounts, it paid only $80,000 for this merchandise. thus, during this period, lutex had in goods available for sale.

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