Business, 03.05.2021 19:40 aprilreneeclaroxob0c

Sue's started January 1 with an inventory account balance of $6,450,000. Sue engaged in the following transactions during the year: Purchased merchandise inventory for $9,500,000. Generated Revenue of $26,000,000. Recorded inventory shrinkage of $10,000 after taking a physical inventory at year-end. Reported Gross Profit for the year of $15,000,000 on its Income Statement. Assuming no returns or allowances were taken/given, At what amount was Merchandise Inventory reported on the company's year-end Balance Sheet

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Sue's started January 1 with an inventory account balance of $6,450,000. Sue engaged in the followin...

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