Wilburn Company Reported the Following Data at Year-End: Sales, $100,000;

question 44

Multiple Choice

Wilburn Company reported the following data at year-end: Sales, $100,000; Beginning inventory, $8,000; Ending inventory, $6,000; Cost of goods sold, $60,000; and Gross margin, $40,000. What was the amount of merchandise purchases for the year?

• A) $58,000
• B) $40,000
• C) $46,000
• D) $68,000

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