Torrington Inc.updates its inventory records perpetually.The company's records showed a beginning inventory of $6,200,cost of goods sold of $81,600,and ending inventory of $12,000.
Required:
Determine the amount of inventory that was purchased during the year.

Question

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The Answer of Torrington Inc.updates its inventory records perpetually.The company's records showed a beginning inventory of $6,200,cost of goods sold of $81,600,and ending inventory of $12,000.
Required:
Determine the amount of inventory that was purchased during the year.