Question: Selected financial statement data for Schmitzer Inc. is shown below: 2021 2020 Balance sheet: Inventories 71,000 59,000 Ratios: Gross profit ratio for 2021 50 %

Selected financial statement data for Schmitzer Inc. is shown below:

2021 2020
Balance sheet:
Inventories 71,000 59,000
Ratios:
Gross profit ratio for 2021 50 %
Inventory turnover ratio for 2021 6

What was the amount of net sales for 2021?

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