Problem

Yang&Min Inc. is a retailer of contemporary furniture. You are told that Yang&Min’...

Yang&Min Inc. is a retailer of contemporary furniture. You are told that Yang&Min’s ending inventory is $200,000 and its cost of goods sold is $500,000. Yang&Min had $100,000 of inventory at the beginning of the year. What was the dollar amount of goods purchased by Yang&Min during the year?

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