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03-01-2023
Business

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The following is a portion of the condensed income statement for rowan, incorporated, a manufacturer of plastic containers: net sales $ 3,660,000 less: cost of goods sold: inventory, january 1 $ 750,000 net purchases 3,100,000 inventory, december 31 (750,000) 3,100,000 gross profit $ 560,000

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