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16 Lloyd Management Corp, has provided the following information: Their Inventory balance increased $50,000 during the period. Net Revenpe for the period was $3,500,000. Gross Profit for the period was $2,500,000. The Accounts Receivable balance increased $200,000 during the period. Notes Payable balance increased by $300,000 during the period. How much were Lloyd Management Corp.'s inventory purchases? A. $ 1,050,000 B. $ 1,000,000 C. $ 1,300,000 D. $ 1,200,000 E. None of the above