You are provided with the following information about a company at the end of its first...
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You are provided with the following information about a company at the end of its first year of operations: • Closing Inventory: £64,000 • Gross Profit: £172,000 • Purchases of inventory in cash: £130,000 Credit Sales: £150,000 • Credit inventory purchases: £56,000 Calculate the amount of cash sales made by the company during that year. You are provided with the following information about a company at the end of its first year of operations: • Closing Inventory: £64,000 • Gross Profit: £172,000 • Purchases of inventory in cash: £130,000 Credit Sales: £150,000 • Credit inventory purchases: £56,000 Calculate the amount of cash sales made by the company during that year.
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